Is anyone NOT a 401k millionaire?

[Anonymous]

Anonymous wrote:

Anonymous wrote:While I do think it's a troll, in THEORY, with above average growth and maxing the defined contributions limits entirely, he could get there, defintely in combined values as a couple.

The harder part is having a company that will throw in 40K + a year in profit sharing in addition to the employee max

Learn to read, bro. He said they each had over $1 million separately. It’s absolutely impossible for two young folks in their 20s to pull that off. Don’t feed the troll.

It’s possible but very unlikely. If you max out mega backdoor since age 21 and benefitted from the last decade of S&P 500 returns it would get you more or less to 1M.

[Anonymous]

Good lord, no. I don’t have that much but I started mine later.

[Anonymous]

Me either!

[Anonymous]

OP hopefully isn’t as obnoxious in real life as they are on here.

[Anonymous]

Nice humble brag you spoiled little thing.

[Anonymous]

You can only put so much in your 401k each year. Unless you started working and contributing to that 401k when you were 16 - I don't believe you

[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?

BS. Troll. Your math doesn't add up.

+1
Idiots

[Anonymous]

46 and not even close to $1m.

[Anonymous]

Lol I’m 35 and have been maxing out my 401k since I was 23/24, with an 8% employer match. I’m not a 401k millionaire and without a very aggressive portfolio don’t understand how anyone younger than I am could be

[Anonymous]

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?

No you don’t.

[Anonymous]

Not everyone has a great match either. That really helps. For instance Fannie and Freddie has an 8 percent match.

[Anonymous]

I used to own a large title company. I’ve seen Tammy tens of thousands of peoples finances.

It is possible but exceedingly rare. There are some people who really do a have a ton of bitcoin or Tesla that they bought super cheap, some inside tax deferred accounts.

Basically they made a crazy gamble that against all odds and logic paid off.


Op- what did you invest in and when that comprises this unbelievably lucky return?

[Anonymous]

Anonymous wrote:Never had a job that offered retirement. I was lucky if they even paid me or that the check they wrote didn't bounce. There are jobs that cost me more to go to work than to stay at home.
I ended up buying Bitcoin and Tesla stock and then I retired. I would never had my money die in a 401k.
Is anyone still NOT in Bitcoin and Tesla? How can this be?!

+1

[Anonymous]

Anonymous wrote:

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.

Yeah, I call bullshit too.

haha, we posted at the same time. DCUM is overrun by trolls. The math doesn't add up, and more people should have seen that right away.

Some people had a headstart with daddy’s money. that’s all that is if even

[Anonymous]

Anonymous wrote:I got 130k in my 401k but that’s bc I’m only 30. Have 200k total in retirement assets. My calculations show I’ll have 1m by age 40

🙌🙌🙌