401K could reach 1 million this year?

[boingyman]

Don't 401k's limit what you can invest in? Like no individual stocks aside from employer stock?

Depends on the 401k and brokerage it's in. Most 401k do have limits to only various mutual funds/ETFs though. IRA's give you the most flexibility like a normal taxable brokerage account.

Investing and saving is good to a point but you could walk across the road tomorrow and get hit by a truck. Gotta have some fun while you're here.

I've known multiple people that have worked hard their entire lives and saved every penny to live it up and travel in retirement... they got to retirement and their health was so fucked up they couldn't go do all those things anyway.

Out of the two, I know which option I lean towards.

Prepare for the future, but make sure you enjoy the ride a long the way. Find that balance as well as making your mental and physical health a priority.

 

[Contempt]

$1 million is still a lot today.


Under communism those who work hard do have more.

Nobody is greedy rich though

Yah for the person who doesn't understand communism. Have you ever been to a communist or ex communist country? Or is your understanding based on what your dipshit university professors or hippy friends say it "should be"?

ANYTHING you produce belongs to the state to be redistributed "fairly" to others. In a communist country, the only rich people are the party members, everyone else is fucked.

 

[rellikoge]

I got about 800k now but most are tied up in 401k. I turn 40 this year and its mostly the result of savings and investing since I started working at 16. The time value of money is strong.

If you want a get rich quick plan maybe look into crypto. I got a bunch of friends who tripled their money in less than half a year. I don't have anything invested in it but thinking about diversifying into that market. But you have to be able to stomach volatility as it can go down or up fast and furious.