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Started By
Message
re: 401K millionaire check-in
Posted on 8/9/26 at 10:00 pm to weagle1999
Posted on 8/9/26 at 10:00 pm to weagle1999
quote:
Why don’t more financial advisors and articles focus on how a person can invest and possibly make money now so that be used now instead of decades later when that person is elderly and probably has much less time to enjoy life?
Warren Buffett became a millionaire at 32 and a billionaire at 56.
2
Posted on 8/9/26 at 10:03 pm to ClientNumber9
You want to know what you will have between 65 and 70?
Posted on 8/9/26 at 10:18 pm to fallguy_1978
Also those people are mostly morons and under 10% beat the returns of the S&P.
Posted on 8/9/26 at 10:19 pm to coopsdad
If you just earn 10% on that, you should double it twice in 16 years and have at least $4MM.
Posted on 8/9/26 at 10:22 pm to CaptainJ47
quote:
Congrats. $1M in a 401k will pay you $40-50k annually. Not a ton because that is pre-tax but gives you something.
What funds are you in that get 4-5% annually? You should average 10-12 by just being in S&P index funds.
This post was edited on 8/9/26 at 10:24 pm
Posted on 8/9/26 at 10:26 pm to ClientNumber9
Going for 3 mm, but have $1.13mm right now.
Posted on 8/9/26 at 10:30 pm to ClientNumber9
(no message)
This post was edited on 8/10/26 at 7:55 am
Posted on 8/9/26 at 10:50 pm to ClientNumber9
The 1st million is the slowest and hardest. They multiply and quicker from there.
Posted on 8/9/26 at 11:47 pm to ClientNumber9
Fantastic.
If you have no debt, you are smoking the game.
If you have no debt, you are smoking the game.
Posted on 8/9/26 at 11:48 pm to Winston Cup
quote:
How much in the brokerage account?
Which one?
Posted on 8/9/26 at 11:51 pm to tokenBoiler
quote:
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.
We did a backdoor Roth contribution last year.
Just get the check ready for taxes.
Posted on 8/9/26 at 11:53 pm to fallguy_1978
quote:
Warren Buffett became a millionaire at 32 and a billionaire at 56.
After about 600-700k with steady contributions and passive income shite grows fast.
Posted on 8/10/26 at 12:01 am to kywildcatfanone
quote:
Overpaid and time to end pensions for govt workers
Say that to all the correctional officers face whp are making 80k, and are keeping all the murderers, rapists, child predators locked up and away from your wife and kids.
Posted on 8/10/26 at 12:36 am to holdmuh keystonelite
quote:
Say that to all the correctional officers face whp are making 80k, and are keeping all the murderers, rapists, child predators locked up and away from your wife and kids.
Incredibly tough job.
Posted on 8/10/26 at 1:33 am to deeprig9
quote:
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.
I honestly thought you had to be 59 1/2 to withdraw from Roth without penalty. When did this change? I gotta step up my game.
This post was edited on 8/10/26 at 7:45 am
Posted on 8/10/26 at 3:37 am to go ta hell ole miss
quote:
Contributions (The money you put in): Can be taken out completely tax-free and penalty-free at any age. You do not have to wait until retirement.
Posted on 8/10/26 at 4:06 am to lsu xman
Before 59 you’ll pay early withdrawal penalty
Posted on 8/10/26 at 4:10 am 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
This. Donate the matching amount, but to tie the majority of savings into a 401k is not the best idea esp if you plan on retiring early.
Posted on 8/10/26 at 5:11 am to BabyTac
401 k =55 rule which can have a onetime per year withdrawal when meeting criteria.
Posted on 8/10/26 at 5:13 am to BabyTac
No one is retiring.
Work harder.
Work harder.
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