Is anyone NOT a 401k millionaire?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

Didn’t read the whole thread, so maybe this was addressed? Someone in their 20s can surely be a millionaire, but how can one be a 401k millionaire at that age? You can’t invest enough to reach millionaire status at that age unless you really hit on a couple of stocks.

Should have read the thread because literally that's EVERY response!

I’m the PP. You’re right. I read the other responses…after my post.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

Didn’t read the whole thread, so maybe this was addressed? Someone in their 20s can surely be a millionaire, but how can one be a 401k millionaire at that age? You can’t invest enough to reach millionaire status at that age unless you really hit on a couple of stocks.

Why is every naysayer on here just following the established norms within a 401k and picking low cost index or target date funds and then just blindly contributing over time? Of course you won’t have $1M accumulated in < 10 years with that strategy. That set and forget philosophy is now the losing strategy. AI and accessible retail trading platforms have changed everything. Most millennial and Gen Z investors are actively buying and selling within their 401k, IRA, and other investments accounts. This is the new key to making big money. Capitalizing on extreme volatility.

Oh boy
SO much nonsense

[Anonymous]

OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

[Anonymous]

Troll 🤣

[Anonymous]

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

There are plenty of boomers with over a million dollars. As mentioned, being a millionaire isn’t what it used to be. That you’re under 30 and at 2.5 million is quite an accomplishment. It doesn’t mean you need to harshly judge others that haven’t had the professional success and/or the windfall of money from family.

[Anonymous]

Anonymous wrote:Troll 🤣

Likely

[Anonymous]

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

You talk so much crap.

Werent you saying "sell now" on the other thread a few days ago.

People dont care about your riches lol. We have our own.

[Anonymous]

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

I could believe someone has a million saved in their late twenties, but not in a 401k. Absolute BS. Liar. Not possible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

I could believe someone has a million saved in their late twenties, but not in a 401k. Absolute BS. Liar. Not possible.

Not OP, but I had $55K in a 401k at the end of 2019. Moved it to a Rollover IRA with Fidelity when I changed jobs. I kept contributing to my new 401k (crummy options) but invested my $55K in TSLA. Figured, why not? It is now worth $860K. My current 401k has about five years of contributions in it and a balance of $150K. I am starting a new job next month and will consolidate everything into my new 401k with Fidelity. So then I’ll have $1.1M saved for retirement in a 401k. I’m only 30. Doesn’t seem that far fetched from my vantage point.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

I could believe someone has a million saved in their late twenties, but not in a 401k. Absolute BS. Liar. Not possible.

Not OP, but I had $55K in a 401k at the end of 2019. Moved it to a Rollover IRA with Fidelity when I changed jobs. I kept contributing to my new 401k (crummy options) but invested my $55K in TSLA. Figured, why not? It is now worth $860K. My current 401k has about five years of contributions in it and a balance of $150K. I am starting a new job next month and will consolidate everything into my new 401k with Fidelity. So then I’ll have $1.1M saved for retirement in a 401k. I’m only 30. Doesn’t seem that far fetched from my vantage point.

1.1 million in investments and 860k of it is in TSLA. I hope this is a joke.

[Anonymous]

OP, go post this under your real user name (no burner) on Reddit if you are telling the truth. If you’re really in your late 20s and posting here, a random anonymous forum, with that much money, there is zero chance you aren’t on the financial forum on Reddit.

The board is so lame now. It’s full of trolls and posters who argue with or defend trolls.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

You talk so much crap.

Werent you saying "sell now" on the other thread a few days ago.

People dont care about your riches lol. We have our own.

Yup!!!!! And the market is down today big time!! Except for me and DH. It’s gonna be a glorious 10 months. Our portfolio will hold strong while all the greedy boomers watch their portfolios tank!

Best to stop looking at your rear view mirror old timer and start watching the road in front of you. I’m not even 30 yo and I’ve already passed you on the highway of life’s accomplishments. Old people should be flushed down a toilet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

You talk so much crap.

Werent you saying "sell now" on the other thread a few days ago.

People dont care about your riches lol. We have our own.

Yup!!!!! And the market is down today big time!! Except for me and DH. It’s gonna be a glorious 10 months. Our portfolio will hold strong while all the greedy boomers watch their portfolios tank!

Best to stop looking at your rear view mirror old timer and start watching the road in front of you. I’m not even 30 yo and I’ve already passed you on the highway of life’s accomplishments. Old people should be flushed down a toilet.

Im not 30 yet either.

But you are a very nasty person to wish harm to your parents and others.
I dont believe you are wealthy at all because you are clearly stupid.

[Anonymous]

I can tell just by the tone of OP’s post that they’re trolling. Not even the crazy numbers and the fact they perfectly timed the market, simply the tone of their post gives it away.

Anyway, it’s a very weird story to choose for a troll post.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I can’t imagine what it must feel like to be 40, 50, or even 60 years old and to have less than 7 figures saved up for retirement. DH and I are sporting close to $2.5M at 29 years old and we estimate we’ll have about $15M by the time we’re both 40 and be ready for FIRE. Figured this was just normal based on cars people drive, vacations people take, and houses people have compared to us. Guess most boomers are just posers keeping up with the Jones’s.

You talk so much crap.

Werent you saying "sell now" on the other thread a few days ago.

People dont care about your riches lol. We have our own.

Yup!!!!! And the market is down today big time!! Except for me and DH. It’s gonna be a glorious 10 months. Our portfolio will hold strong while all the greedy boomers watch their portfolios tank!

Best to stop looking at your rear view mirror old timer and start watching the road in front of you. I’m not even 30 yo and I’ve already passed you on the highway of life’s accomplishments. Old people should be flushed down a toilet.

This is a very natural way of speaking. Tell us more.