401K could reach 1 million this year?

Kitafuji said:
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I own my house outright now and it is worth 450K and my wife also has a 401k that is doing about the same as mine. Any other millionaires on sherdog?
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Do you get paid every other day? You've saved a lot with that type of contribution rate. Or you're extremely old.

JK - congratulations man. Slow and steady gets the job done. What are your retirement plans?
 
I've never had a job that offered 401k.

Probably should stop working for shady companies at some point...
 
Sonny Qc said:
Congrats Sherbros.

Everybody should save money as much as they can,
to many dumb dumb live paycheck to paycheck even with good salaries.
Peoples spend so much money on things they can't afford or don't need nowadays.
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Yeah, my company matches up to 4% of my contribution and I have been putting in at least that much since 1994. Always pay yourself first them you can do with the rest what ever you want.
 
I'm putting in 13% of my income at this point (age 38). We also pump money into a college savings plan. Once the kids are out of the house (I'll be mid 50's), I'll probably put about 40% into retirement.
 
Cooz said:
Do you get paid every other day? You've saved a lot with that type of contribution rate. Or you're extremely old.

JK - congratulations man. Slow and steady gets the job done. What are your retirement plans?
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I will probably work 10 more years then buy a bigger motor home and travel the country and help take care of grandkids once I get them.
 
Oblivian said:
I'm putting in 13% of my income at this point (age 38). We also pump money into a college savings plan. Once the kids are out of the house (I'll be mid 50's), I'll probably put about 40% into retirement.
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You'll be in better shape than me with this plan. Great job!
 
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Richmma80 said:
I hope the market crashes so you lose everything
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In the crash of 2008 I lost nearly 100K in one day. It was tough to keep myself together even though I "knew? it would come back. Thank God people loves 'dem iPhones and love to shop on Amazon. As for the OP, a million bucks is a lot of money for someone in his 70's, but for a person in their 50's or even 60's that isn't a ton of money nowadays. Congrats and well done, but don't take a bow yet.
 
Two older guys I work with are technically millionaires and still keep working just cause they got bored after like 1 month of retirement

I'm only 29 and no where close
 
Sonny Qc said:
Congrats Sherbros.

Everybody should save money as much as they can,
to many dumb dumb live paycheck to paycheck even with good salaries.
Peoples spend so much money on things they can't afford or don't need nowadays.
Click to expand...

Yep was just talking to my wife about this. She was horrible with money when we meet. I helped her consolidate all her debt so she could bring the payments way down and actually have a chance of paying off her CC debt. Once she's done paying that off I told her she needs to start putting money into her 401k ASAP and if she's lucky she'll have saved up just enough to retire. Not comfortably exactly but she'll make it.
 
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