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Message
401K millionaire check-in
Posted on 8/9/26 at 5:18 pm
Posted on 8/9/26 at 5:18 pm
20 years and 3 weeks as a fed, hit millionaire status as of the closing bell Friday. Pumped about reaching this goal, but $1M, even with my pension and Social Security isn't as good as I thought it would be even 10 years ago. I think to really be comfortable $2M is a better target. I guess I'll keep grinding for another 2-3 years, especially since I'm still in my 40s.
For all you TSP warriors out there, keep at it.
For all you TSP warriors out there, keep at it.
61
Posted on 8/9/26 at 5:22 pm to ClientNumber9
shite brother I’m just trying to make it til the end of the month.
Posted on 8/9/26 at 5:24 pm to ClientNumber9
I’m a little over 2/3 of the way there. Had to start over in 2006 (divorce + ex-ringing up debt)
Thankfully, I had a pension earned before that that want touched. Currently an extra $800/mo at 65.
Thankfully, I had a pension earned before that that want touched. Currently an extra $800/mo at 65.
Posted on 8/9/26 at 5:25 pm to ClientNumber9
quote:
For all you TSP warriors out there, keep at it.
I'm trying, but the government keeps taking all of my money to pay your dumb pensions
Posted on 8/9/26 at 5:27 pm to ClientNumber9
You can't really touch any of that 401k for over a decade more without surrendering a significant chunk of it in penalties, so even though you are a millionaire on paper, you are still going to have to be a working stiff for another 10 years. Consider maxing out a Roth in lieu of more 401k contributions so you can retire earlier off of those principle contributions penalty and tax free until you become eligible to draw on your 401k.
Posted on 8/9/26 at 5:28 pm to ClientNumber9
quote:
401K millionaire check-in
401K….gonna be a while. A bit ago I move the majority of my money to a friend. However, between the 401K and the IRA…I will join you before the end of the year…..or that is the expectation.
Posted on 8/9/26 at 5:34 pm to Allthatfades
quote:
shite brother I’m just trying to make it til next Friday.
Posted on 8/9/26 at 5:36 pm to ClientNumber9
Congratulations. I’m 59 and didn’t start 401k to late in life. My son is an engineer early 30’s and I think he will he hit by 40 ish. Proud of him
Posted on 8/9/26 at 5:37 pm to ClientNumber9
quote:
20 years and 3 weeks as a fed
Weren’t you the one complaining a while back because your salary was capped at like $200K?
Posted on 8/9/26 at 5:42 pm to ClientNumber9
1M?
Just kidding. Good job.
Just kidding. Good job.
Posted on 8/9/26 at 5:45 pm to ClientNumber9
Congrats on having money when you start to develop old person health problems
Posted on 8/9/26 at 5:45 pm to ClientNumber9
You spelled 40k millionaire wrong
Welcome to the board baw
Congratulations on the 7 year truck note
Welcome to the board baw
Congratulations on the 7 year truck note
This post was edited on 8/9/26 at 5:47 pm
Posted on 8/9/26 at 5:47 pm to ClientNumber9
quote:
20 years and 3 weeks as a fed, hit millionaire status as of the closing bell Friday. Pumped about reaching this goal, but $1M, even with my pension and Social Security isn't as good as I thought it would be even 10 years ago. I think to really be comfortable $2M is a better target. I guess I'll keep grinding for another 2-3 years, especially since I'm still in my 40s. For all you TSP warriors out there, keep at it.
I had to look outside 401k for investments because I’m capped at 6%. I do the 6% to get company match and reduce my taxable income and will continue that until I retire probably.
My dumbass has been with my company for 24 years and didn’t start investing into the market until about 12 to 13 years ago. I missed out on gains from 2002 to about 2013 or 2014 only investing 3% and had it going into a savings account
Posted on 8/9/26 at 5:49 pm to deeprig9
quote:
You can't really touch any of that 401k for over a decade more without surrendering a significant chunk of it in penalties, so even though you are a millionaire on paper, you are still going to have to be a working stiff for another 10 years. Consider maxing out a Roth in lieu of more 401k contributions so you can retire earlier off of those principle contributions penalty and tax free until you become eligible to draw on your 401k.
Not really. I'm a fed agent and we have mandatory retirement at 57. At 25 years of service we can retire at any age and draw on our 401K and social security penalty free.
Posted on 8/9/26 at 5:50 pm to ClientNumber9
I am 41 (not married, no kids) with 800k. Currently investing $50k a year (401+match+roth+taxable). Plan to do so for next 20 years. Not a baller. I made mistakes and didn’t put more earlier. Live and learn. I’ll just keep plugging away
This post was edited on 8/9/26 at 8:58 pm
Posted on 8/9/26 at 5:50 pm to Rize
quote:
had to look outside 401k for investments because I’m capped at 6%. I do the 6% to get company match and reduce my taxable income and will continue that until I retire probably.
My dumbass has been with my company for 24 years and didn’t start investing into the market until about 12 to 13 years ago. I missed out on gains from 2002 to about 2013 or 2014 only investing 3% and had it going into a savings account
I hear ya, brother. But you're in it now. You'll get the next few waves. Stick at it.
Posted on 8/9/26 at 5:52 pm to Kenna City Solja
quote:
Weren’t you the one complaining a while back because your salary was capped at like $200K?
Yessir. Don't love that the G says on paper I make over $210k, they only allow me to take home $200k. I'll never be ok with this.
Posted on 8/9/26 at 5:55 pm to ClientNumber9
Cringe
Posted on 8/9/26 at 5:57 pm to Rize
I've been paying into investment and retirement accounts since before the Dotcom bubble crashed. I only look smart now because I'm old
I also realize these could take a 50% haircut in 5 months
I also realize these could take a 50% haircut in 5 months
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