HH retirement accounts just crossed 2m!

[Anonymous]

I know it's likely temporary, but I added up all DH and my retirement accounts today and they total a touch over 2m for the first time ever. We're in our 50s and have been saving since college, but we're not high income so this has been a long haul. Felt I had to note the occasion.

[Anonymous]

Congrats. Keep saving!!

[Anonymous]

Congrats, OP! Happy for you guys!

[Anonymous]

Why would you think it’s temporary? If if you are still contributing, even if the market fluctuates down a bit, you will probably still be over $2M.

Congratulations!

[Anonymous]

Very nice, Congrats.

[Anonymous]

Nice work OP! How close to retirement are you?

[Anonymous]

That’s awesome. Nice work!

[Anonymous]

Congrats, OP!

[Anonymous]

Anonymous wrote:I know it's likely temporary, but I added up all DH and my retirement accounts today and they total a touch over 2m for the first time ever. We're in our 50s and have been saving since college, but we're not high income so this has been a long haul. Felt I had to note the occasion.

Congrats!!!🎊

[Anonymous]

Have you been maxing out since college in a 401K? What assets do you hold in your retirement accounts? What's your annual strategy for contributions? 401K? Pension? IRA? Backdoor? Frontdoor?

Congrats.

[Anonymous]

Congratulations! You started early and that is the key. The math is so simple and compelling but too many people wait too long.

[Anonymous]

I just hit that too, so totally get your desire to share the exciting news.

Congratulations for having the discipline to get to this point (you are a lot younger than me!)

[Anonymous]

Congrats! We're like you--not high income--so I understand this being a big milestone!

[Anonymous]

Anonymous wrote:Have you been maxing out since college in a 401K? What assets do you hold in your retirement accounts? What's your annual strategy for contributions? 401K? Pension? IRA? Backdoor? Frontdoor?

Congrats.

Thanks all for the congratulations!
Our income is low enough that we can contribute to Roth IRAs directly and I've been doing that since I was a teenager before college and we've both always maxed those out. DH has a 403b, has been contributing at least 15% since college plus employer contributions. I have 403b and generally contribute 20%. I usually don't quite max them out but for a few years early on I had a 403b and a 457 and no housing costs (international job with a US public university) and I was able to max them both and that really gave me a great start.

I stick to mainly total market index funds, but in the Roth IRA/rollover IRAs I do have a few individual stock picks--a few have done very well but mostly so-so and a few stinkers. Overall our current portfolio is about 70% in stocks, 30% bonds/cash (mainly individual short-term treasury bills lately rather than bond indices just because of all the rate craziness.

Neither of us have a pension, but we don't have that high of living expenses either (a little under 6k/month not including stuff taken out of our checks--taxes, insurance etc) so I think we should have plenty in retirement. I love my job and plan to work until I'm 70 if I can. DH is planning on retiring fairly soon to start his own business.

[Anonymous]

Anonymous wrote:Congratulations! You started early and that is the key. The math is so simple and compelling but too many people wait too long.

Yes starting early is key.