How many people max out BOTH the 401k and 457(B)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To be fair, some people with very big 401ks have some luck. My wife for instance her company only matched in company stock. And a stock that has outperformed the last 20 years the stock market. So in her case no Warren Buffet just lucky did not work at Enron, Worldcom, Tyco, Lehman Brothers, Bear Sterns as would have lost her whole match.

Imagine if you worked at Google and they did match in employer stock how much you have if you worked there 10 years.

Is it luck or is it knowledge of a particular sector, extensive due diligence (not just reading a bunch of articles), investing skill, etc.

Every study has shown that in almost all cases it boils down to luck. But it's hard to assess when the only thing you are doing is hitting a buy or sell button. The only people I know who actually think they can beat the stock market lack self awareness in a big way.

They also don't come here to brag when their "one special trick" stops working (because it was just luck or most likely completely made up in the first place). Don't fall for the FOMO, as is the case every time this comes up, if they could continually beat the market, they wouldn't be doing their day job.

There’s a lot more to it than just hitting buy or sell button. That’s amateur hour. There’s the research, which takes a lot of time and due diligence. And I mean real extensive due diligence on the business, people, market, competition, earnings, etc. And then there is staying on top of your investments while you own them. I don’t have to quit my day job since I’m now “retired” at 43 yo because of the income produced from our other investments. The Roth 401Ks and IRAs are just the cherry on top when we reach 59 1/2. We’ll probably never even touch them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not 457, but max out my 401k and Mega Roth. 24,500 401k +10k employer match +34,500 Mega Roth. Total annual contributions $69,000. My DH does 401k, plus his 8k roth catch up. RMDs will kill us.

Same with us, plus we max HSA and don't spend it. We've been maxing the federal limit for a decade. Both late 30s with 3.8M in combined retirement funds. I don't know what we're going to do with it all, but we keep maxing it every year since it seems like leaving money on the table not to.

Dear Simpleton:

Thank you for so blatantly revealing your stupidity. It is mathematically impossible to have accumulated such an amount in retirement savings by your late 30s even across four separate 401k, 403b, 457, or Roth accounts and with employer matching. You’re not even smart enough to provide improbable numbers.

Even if only the spirit of your post is true, this strategy makes you look like a total fool. You’re either so dumb that you can’t figure out how to balance near-term spending with long-term investing or so indolent that you’re hoarding extreme amounts of money to retire early and escape a job for which you’re clearly not a qualified fit.

It’s all about life choices. Perhaps in your next incarnation, you’ll roll the dice more favorably. Sigh.

New poster, but your confidence in basic arithmetic misplaced. During the covid crash my DH did a big 401k roll over and put 80% of our combined account into Xom at $35/share. it’s at 120 now and pays about $4 a share in annualized dividends that we reinvest. we have completely stopped contributing to our 401k because it has essentially run away all on its own. We capped the xom at ~30k shares and that pumps ~120k/yr into our 401k.

I know it’s difficult for you to grasp, but many people don’t care to waste
money on safe index funds, especially not when they are young.

Well done. Can’t stand the herd mentality of just putting money into index funds. If you want to get ahead (and I mean way ahead) you have to perform some DD and take some risk. I did something similar with ISRG in its early years after doing a 401K rollover. That investment alone is up thousands of percent now (no divy though).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not 457, but max out my 401k and Mega Roth. 24,500 401k +10k employer match +34,500 Mega Roth. Total annual contributions $69,000. My DH does 401k, plus his 8k roth catch up. RMDs will kill us.

Same with us, plus we max HSA and don't spend it. We've been maxing the federal limit for a decade. Both late 30s with 3.8M in combined retirement funds. I don't know what we're going to do with it all, but we keep maxing it every year since it seems like leaving money on the table not to.

Dear Simpleton:

Thank you for so blatantly revealing your stupidity. It is mathematically impossible to have accumulated such an amount in retirement savings by your late 30s even across four separate 401k, 403b, 457, or Roth accounts and with employer matching. You’re not even smart enough to provide improbable numbers.

Even if only the spirit of your post is true, this strategy makes you look like a total fool. You’re either so dumb that you can’t figure out how to balance near-term spending with long-term investing or so indolent that you’re hoarding extreme amounts of money to retire early and escape a job for which you’re clearly not a qualified fit.

It’s all about life choices. Perhaps in your next incarnation, you’ll roll the dice more favorably. Sigh.

New poster, but your confidence in basic arithmetic misplaced. During the covid crash my DH did a big 401k roll over and put 80% of our combined account into Xom at $35/share. it’s at 120 now and pays about $4 a share in annualized dividends that we reinvest. we have completely stopped contributing to our 401k because it has essentially run away all on its own. We capped the xom at ~30k shares and that pumps ~120k/yr into our 401k.

I know it’s difficult for you to grasp, but many people don’t care to waste
money on safe index funds, especially not when they are young.

So, to summarize, you’ve taken exceptionally stupid and poorly calculated risks, gotten lucky with random meme stock picking, and now you’re bragging on about your ill-gotten success with the hopes of some sort of pat on the back?!? Sounds like a typical basement-dwelling millennial operating with the safety net of a helicopter parent.

Oh, BTW, there’s no such thing as a combined account for retirement savings. Could you be any more of an idiot?

XOM (Exxon Mobile) is hardly a meme stock but I was also wondering about the combined 401K rollover account as well. That didn’t make sense so I’m assuming the poster didn’t explain it correctly. 401Ks and IRAs are by definition INDIVIDUAL accounts. Regardless, great investment returns and a nice safe dividends until oil price drops again and the stock goes down.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not 457, but max out my 401k and Mega Roth. 24,500 401k +10k employer match +34,500 Mega Roth. Total annual contributions $69,000. My DH does 401k, plus his 8k roth catch up. RMDs will kill us.

Same with us, plus we max HSA and don't spend it. We've been maxing the federal limit for a decade. Both late 30s with 3.8M in combined retirement funds. I don't know what we're going to do with it all, but we keep maxing it every year since it seems like leaving money on the table not to.

Dear Simpleton:

Thank you for so blatantly revealing your stupidity. It is mathematically impossible to have accumulated such an amount in retirement savings by your late 30s even across four separate 401k, 403b, 457, or Roth accounts and with employer matching. You’re not even smart enough to provide improbable numbers.

Even if only the spirit of your post is true, this strategy makes you look like a total fool. You’re either so dumb that you can’t figure out how to balance near-term spending with long-term investing or so indolent that you’re hoarding extreme amounts of money to retire early and escape a job for which you’re clearly not a qualified fit.

It’s all about life choices. Perhaps in your next incarnation, you’ll roll the dice more favorably. Sigh.

New poster, but your confidence in basic arithmetic misplaced. During the covid crash my DH did a big 401k roll over and put 80% of our combined account into Xom at $35/share. it’s at 120 now and pays about $4 a share in annualized dividends that we reinvest. we have completely stopped contributing to our 401k because it has essentially run away all on its own. We capped the xom at ~30k shares and that pumps ~120k/yr into our 401k.

I know it’s difficult for you to grasp, but many people don’t care to waste
money on safe index funds, especially not when they are young.

That's such an amazing strategy that absolutely no one in the investment game recommends it. Not people with decades of experience on Wall Street. Not economists from U of Chicago. Not quants educated at MIT. Nobody.

Actually Warren Buffet says diversification is for people who don’t know what they are doing. Of course, those other types you mention don’t recommend it. It’s hard and most people are too lazy to do the work. But for some willing to put in the proper DD and take the risk the payoff can be huge.

[Anonymous]

I've yet to meet a day trader that even knows their numbers. Ask them what relative index they beat and you won't get an answer. And don't even bother asking about risk adjusted performance! They never have any proof, just hot air.