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Posted on 8/9/26 at 6:37 pm to deeprig9
I retired in 2018 at the age of 54 and have been drawing a small amount out of my 401-K since.
I have paid no early withdrawal fees, only taxes.
I have paid no early withdrawal fees, only taxes.
Posted on 8/9/26 at 6:37 pm to ClientNumber9
Not a millionaire yet, but Im well into six figures now with a lot of time for that to compound before I get to 60 which is what Im targeting to be done with working.
Posted on 8/9/26 at 6:51 pm to Tigerrganz
quote:
I retired in 2018 at the age of 54 and have been drawing a small amount out of my 401-K since.
I have paid no early withdrawal fees, only taxes.
Then somebody fricked up and you got lucky. You have to be at least 55 for any of those penalty exemptions to kick in.
Posted on 8/9/26 at 6:52 pm to ClientNumber9
Posted on 8/9/26 at 6:55 pm to ClientNumber9
Congratulations
Posted on 8/9/26 at 6:55 pm to ClientNumber9
quote:
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.
Thought we doge’ed all you bums
Posted on 8/9/26 at 7:02 pm to ClientNumber9
I’ve contributed the max for the past 30 yrs along with some other investments and in a good spot. Enjoy what I do so I’ll keep going even though I don’t really have to.
Posted on 8/9/26 at 7:13 pm to Rize
quote:
They only allow me to put in 6%. Capped due to being a HCE and company doesn’t have a safe harbor plan.
You can do after-tax contributions and then convert to mega Roth backdoor funding.
Posted on 8/9/26 at 7:14 pm to Turnblad85
quote:
Congrats on having money when you start to develop old person health problems
This simply can’t be stressed enough.
Enjoy as much money as you can when you are younger and able to enjoy it.
Posted on 8/9/26 at 7:17 pm to weagle1999
quote:
You can do after-tax contributions and then convert to mega Roth backdoor funding.
This isn’t available to everyone.
Posted on 8/9/26 at 7:20 pm to ClientNumber9
$940k as of today. Should hit by end of year. Still got about another 16 years of working. Hoping to get close to $3m.
Posted on 8/9/26 at 7:20 pm to weagle1999
quote:
You can do after-tax contributions and then convert to mega Roth backdoor funding.
I can’t. I have 410k and Roth 401k options capped at 6% total.
I put 6% into my 401k and none into Roth 401k. Then I back door a Roth for $7500 and the rest into brokerage.
I wish I had better options but no mega back door.
This post was edited on 8/9/26 at 7:24 pm
Posted on 8/9/26 at 7:23 pm to ClientNumber9
quote:
fed
quote:
401K
quote:
pensio
quote:
Social Security
The federal government pays for all of that?
Posted on 8/9/26 at 7:24 pm to ClientNumber9
Can regular millionaires also check in?
Posted on 8/9/26 at 7:26 pm to weagle1999
quote:
Enjoy as much money as you can when you are younger and able to enjoy it.
Nah man, I'm working max overtime and pinching pennies so I can hit those glorious 60's when I'll be retired and everything will be wonderful.
Posted on 8/9/26 at 7:26 pm to ClientNumber9
Type of dweeb to be bragging about racking up gov sick leave.
Stay poor baw
Stay poor baw
Posted on 8/9/26 at 7:31 pm to fallguy_1978
quote:
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
Slow and steady does it. I started in 1985 at a young age. Always went with strong companies and avoided high flyers . Did buy apple though only in 2017 but up 9x since then.
Posted on 8/9/26 at 7:33 pm to danilo
quote:
(not married, no kids). Currently investing $50k a year
Found the key to great investing and early retirement.
Posted on 8/9/26 at 7:40 pm to ClientNumber9
Take a serious look at Roth IRA conversions. High RMDs can push you into IRMAA territory. It's a completely first world problem, but IRMAA is worse than taxes.
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