Tell me how much you have saved in your 401K at age 40.

[Anonymous]

I'll play.

41 now, my balance is ~$600K in 401K
Cash is about 250K
VA529 for 2 kids ~30K
no major debt outside of monthly cc of about $1-2K as we paid off our mortgage a couple years ago.

Husband
401K ~400K
Cash and other stock investments ~200K

We aren't huge earners but we're been pretty good savers. Back in the day we earned total of $125k combined and now closer to $350k combined. We driving old cars, no extravagant vacations, eat out 1-2x a week.

I think we're OK but TBH it always feel like we need more as I think we'll need to help out our parents who did not get to save much.

[Anonymous]

DW Age 43 $580k
DH Age 42 $230k
529 Age 11 $174k

Combined Income at $210k now and started saving young. Feel like we are on track, but not on easy street. Got some help with 529 from grandparents.

[Anonymous]

DW Age 48 - 760k in 401k
DH Age 54 - 600 in 401k
529 Plan - 16 yr old child - 100K
DW ESPP - 107K
DH ESPP - 90K
Mutual funds - 200K
Emergency fund: 100K
Home Equity - 950K

[Anonymous]

I am 41 with about $450k in my 401k. My wife has about $300k in hers but she's 2 years younger.

[Anonymous]

I have about $250K in my TSP, plus $33K in a 529 for my kid. I don't know my husband's 401K balance off the top of my head, but it's more than mine. I didn't really start working until I was 30 (grad school), but am maxing out the TSP now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't understand how these high Numbers are possible for people under 35-40 in only a 401k, the max per year isn't enough to get over $1mm even if you were maxing out every year.... what am I missing?!

Think the same thing looking at these numbers. I too have maxed out to 18k since graduating law school at age 25. I too but it all in the S&P -- not in bonds etc. Yet 11 yrs into it, I'm struggling to reach 300k. Difference is -- I've never worked for any employer with a match until this past yr (it's just industry standard - not that I was with bad employers). I am just now realizing how quickly it grows if you have a generous match. People are posting on here with 5% matches or at companies where you get 12% put in automatically, whether you put in $1 or not. Those things in addition to putting in 18k yourself adds up fast. I hope to make up some ground in the next few yrs.

As another poster has explained, the “max” for 401(k)s is not 18k. Matches help, but it is really profit sharing which has a limit of of $55k for 2018 that allows people to really sock money away.

[Anonymous]

Anonymous wrote:DW Age 43 $580k
DH Age 42 $230k
529 Age 11 $174k

Combined Income at $210k now and started saving young. Feel like we are on track, but not on easy street. Got some help with 529 from grandparents.

Some help?

[Anonymous]

Age 46–700k. Plus pension for life around 75k.

[Anonymous]

41, just hit over $500K in tsp, plus a DB pension of approx $30K/yr
spouse 42 has $600K

Feel like we are on track.

[Anonymous]

39: $511K
Wife 38: $345K
529: $83k

[Anonymous]

At 40, we had about $100,000 in our retirement accounts

Now at 54 we have more than $2.5 million. Just remember, slow and steady wins the race. (And a bull market helps too)

[Anonymous]

Me: 40 with 375k in retirement accounts, around 280k in other investment accounts. 50k in 529s, husband 41 with around 400k in retirement accounts and 150k in other investments. Also equity in primary residence and several rental properties.

[Anonymous]

Anonymous wrote:Me: 40 with 375k in retirement accounts, around 280k in other investment accounts. 50k in 529s, husband 41 with around 400k in retirement accounts and 150k in other investments. Also equity in primary residence and several rental properties.

You (plus spouse) are one of the many multi-millionaires on this forum at only age 40.

[Anonymous]

45 DH and I have approx. $1.3 M saved in 401k and about $120,000 saved in 529’s for our two kids. Behind in additional savings.

[Anonymous]

Anonymous wrote:45 DH and I have approx. $1.3 M saved in 401k and about $120,000 saved in 529’s for our two kids. Behind in additional savings.

....and another multi-millionaire (behind in savings bummer).