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re: How old are you, and how much is in your 401K?

Posted on 2/10/20 at 7:00 pm to
Posted by Penrod
Member since Jan 2011
55508 posts
Posted on 2/10/20 at 7:00 pm to
quote:

we are simple people and eat ham sandwiches after winning national championships
Posted by RockyMtnTigerWDE
War Damn Eagle Dad!
Member since Oct 2010
108971 posts
Posted on 2/10/20 at 7:06 pm to
83

37K in one 401K and 72K in another. I am just hoping to work till I reach 125K in the one with 37K, or have a badass funeral.

Good luck to everyone else. Life’s been a blast.
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
74850 posts
Posted on 2/10/20 at 7:12 pm to
quote:

Why do that when you're paying sub 4% on most mortgages?
Understood and fully admitted but for average Janes and/or Joes, getting free & clear on their primary residence better allows for a major life hiccup to not totally derail them.
Posted by camoedoutlander
Member since Sep 2017
487 posts
Posted on 2/10/20 at 7:25 pm to
coming up on 30 and not nearly enough, easily going to be working into my 60s.
Posted by CaptainJ47
Gonzales
Member since Nov 2007
7799 posts
Posted on 2/10/20 at 7:28 pm to
We talking just 401k here? I mean my stock options and exec deferred compensation plan are solid
Posted by aTmTexas Dillo
East Texas Lake
Member since Sep 2018
24001 posts
Posted on 2/10/20 at 7:30 pm to
quote:

How close are y’all to calling it quits?

Already quit. Worth millions. Stock market worked for me. For you young ones, just keep investing and choose the right political leaders.

Oh, early 60s.
Posted by slackster
Houston
Member since Mar 2009
91838 posts
Posted on 2/10/20 at 7:32 pm to
quote:

For you young ones, just keep investing and choose the right political leaders.



Stock market under Dem presidents has outpaced Reps by nearly 4% annually. Funny how that works.
Posted by tommy2tone1999
St. George, LA
Member since Sep 2008
7795 posts
Posted on 2/10/20 at 7:33 pm to
Nunya and bidness
Posted by slackster
Houston
Member since Mar 2009
91838 posts
Posted on 2/10/20 at 7:33 pm to
quote:

Understood and fully admitted but for average Janes and/or Joes, getting free & clear on their primary residence better allows for a major life hiccup to not totally derail them.



Touche.
Posted by aTmTexas Dillo
East Texas Lake
Member since Sep 2018
24001 posts
Posted on 2/10/20 at 7:35 pm to
quote:

Stock market under Dem presidents has outpaced Reps by nearly 4% annually. Funny how that works.


I sure like it. Thanks democrats!
Posted by slackster
Houston
Member since Mar 2009
91838 posts
Posted on 2/10/20 at 7:37 pm to
quote:

sure like it. Thanks democrats!


Posted by Mud_Till_May
Member since Aug 2014
9685 posts
Posted on 2/10/20 at 7:44 pm to
31

$0.00 dollars
Posted by dchog
Pea Ridge
Member since Nov 2012
27163 posts
Posted on 2/10/20 at 8:03 pm to
33 and I haven't checked mine and I assume it is in the 50-70 401k range. I plan on opening up an Roth IRA this year.

I will find other ways to make other investments or do side jobs. What will help me financially in the future is I will inherit my parents house. The house was built over 12 months at 1800 square feet this year. It is an ICF house(insulated concrete foam)and if it was listed, it would be worth over $300,000.
Posted by 99BLKBRD
Member since Mar 2015
575 posts
Posted on 2/10/20 at 8:14 pm to
I’m 59...don’t have a 401K, unfortunately. I do have an IRA and savings account. A little over $850,000 in that. Would have more but cleaned out by a whore of a wife at 36yo. I’m mainly still working for the Health Insurance...probably retire in 3 years.
Posted by StreamsOfWhiskey
The Woodlands, TX
Member since Jun 2013
922 posts
Posted on 2/10/20 at 9:11 pm to
I’m married with a family and doing the full amount. Coupled with your employer’s contributions, you can do $57,000 total this year. I’ve done the max total amount for the last three years. It’s possible, but you have to budget and forego a lot of luxuries. We also roll the after-tax portion contributions into a jumbo back door ROTH IRA at the end of the year.
Posted by El Segundo Guy
1-866-DHS-2-ICE
Member since Aug 2014
11648 posts
Posted on 2/10/20 at 9:24 pm to
Nothing in 401k. Not a penny put into a 401k in my lifetime.
Posted by AUCE05
Member since Dec 2009
45364 posts
Posted on 2/10/20 at 10:15 pm to
Very good dude. I have a pension as well and not nearly that much in 401k. But I have been maxing the past few years.
Posted by TnMountaineer
Minglewood
Member since Aug 2018
3490 posts
Posted on 2/10/20 at 10:22 pm to
quote:

Would have more but cleaned out by a whore of a wife at 36yo.


There’s a lesson to be learned here for you young people.
Posted by zippyputt
Member since Jul 2005
7083 posts
Posted on 2/10/20 at 10:24 pm to
quote:

Just 401(k)?

You guys aren't doing a Roth IRA?


There are limits to putting money into a Roth and income phase outs also. So, if you are married and make over $206k or single at $139k, you can't use it.

Posted by TheWiz
Third World, LA
Member since Aug 2007
11886 posts
Posted on 2/11/20 at 5:54 am to
Backdoor Roth. ANYONE can use a Roth. You just have to use different avenues.
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