Is anyone NOT a 401k millionaire?

[Anonymous]

It was all trolling all along, at least I hope - you can't be dumb enough to actually invest like this for retirement.

[Anonymous]

After today a lot are no longer millionaires

[Anonymous]

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?

Unless you started making bank at eight-years-old and maxed out every year after that, I don't see how this is possible.

X100

TROLL

[Anonymous]

Anonymous wrote:Most ‘millionaires’ are not even real millionaires. Data shows that only 10-15% of millionaires have investments worth $1 millions+ after excluding their retirement account(s) and primary residences.

Truly wealthy people are incredibly rare.

Why wouldn't you include home and retirement in your calculations? Home is where most MC/UMC+ have their wealth along with retirement accounts.

[Anonymous]

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?

Unless you started making bank at eight-years-old and maxed out every year after that, I don't see how this is possible.

Indeed, it is utterly impossible. There are annual contribution limits.

[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?

Unless you started making bank at eight-years-old and maxed out every year after that, I don't see how this is possible.

X100

TROLL

Agree, OP's post is fake.

[Anonymous]

Anonymous wrote:Average for 20s is 85k. Average in your 60s is 570K.

You are an entitled little thing and need to get out of your bubble before all that money that came to you so easily is just as easily taken away.

+1

Also I was in law school and then clerking until my mid-20s so there was no way I could have amassed $1M by my late 20s and it wasn’t because I wasn’t working hard. I think it is rare for someone to save that much before 30 considering many high earning careers require many years of education.

Also, many more people are working very middle class wage jobs and are struggling to afford housing and healthcare. This whole post is so tone deaf.

[Anonymous]

Anonymous wrote:After today a lot are no longer millionaires

Huh? The S&P is still up well over 20% for the year.

[Anonymous]

If this post is true then great job but I doubt it's true.

[Anonymous]

You are a twat.

[Anonymous]

after the market drop,
my $1m 401k is down to $798k.
easy come, easy go

[Anonymous]

Wow this post makes me feel like crap. I am 32 and only have $125K in my 401K. I contribute 15%…my income went up almost $100K from 27-32, prior I wasn’t making much…hoping I can catch up.

[Anonymous]

Anonymous wrote:Wow this post makes me feel like crap. I am 32 and only have $125K in my 401K. I contribute 15%…my income went up almost $100K from 27-32, prior I wasn’t making much…hoping I can catch up.

You will. My 401k went up to $1m in a decade from $100k like you. just continue maxing and at age 42, you'll be pleasantly surprised

[Anonymous]

Anonymous wrote:Wow this post makes me feel like crap. I am 32 and only have $125K in my 401K. I contribute 15%…my income went up almost $100K from 27-32, prior I wasn’t making much…hoping I can catch up.

OP here. You need to open a Rollover IRA that allows investment into individual stocks. DH and I snagged 20,000 shares of UAL at $53 earlier this week and now we’re up $356K just a few days later. Our total portfolio just crossed the $3M mark and we’re now up 47% YTD. FIRE by the time we’re 35, especially easy when everyone else is operating on such extreme fear and stupidity.

[Anonymous]

Less than 5% of people have more than 500k in their IRA. That’s any age.