Is anyone NOT a 401k millionaire?

[Anonymous]

OP- what do you call “stable value”? Can
you drop your “growth” portfolio ?

[Anonymous]

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You can actively trade in mine. It has a brokerage window that allows you to buy whatever you want, except company stock and leveraged funds.

[Anonymous]

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

DP. Um, your combined income is $150K in your mid-40s in a HCOL area. Many people would consider you underachievers—or at best, middlingly successful—yet you have the audacity to attack someone making 10x your income as being “not particularly clever?” Interesting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

DP. Um, your combined income is $150K in your mid-40s in a HCOL area. Many people would consider you underachievers—or at best, middlingly successful—yet you have the audacity to attack someone making 10x your income as being “not particularly clever?” Interesting.

We could easily be making $2M-$3M per year in W2 income, slaving away as deceitful and despicable lawyers. However, we’ve chosen much higher callings. DH is a high school math teacher and volunteer firefighter. I am a registered nurse at an assisted living facility for disabled veterans. We prioritize impact over income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

$5 million in a 401k (and Roth at that) in your 40s on a $150,000 income seems more than a bit beyond what is possible.

[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?

Having a NETWORTH (not just your 401k) like what you supposedly have, puts you in the top 1% of 20-29 year olds. You’re either a troll or completely out of touch with reality. I would not be surprised, if you have this much wealth, you’ve benefited from some relative or are an elk baby.

See the video on this page:

https://www.biggerpockets.com/articles/money-586

You can find percentiles by age group with and with taking into account a home.

[Anonymous]

my daughter (no husband) has a million (without parental help.) she is 32.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

$5 million in a 401k (and Roth at that) in your 40s on a $150,000 income seems more than a bit beyond what is possible.

Only impossible for the ignorant masses. Definitely within the realm of possibility for the intellectually gifted.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

DP. Um, your combined income is $150K in your mid-40s in a HCOL area. Many people would consider you underachievers—or at best, middlingly successful—yet you have the audacity to attack someone making 10x your income as being “not particularly clever?” Interesting.

We could easily be making $2M-$3M per year in W2 income, slaving away as deceitful and despicable lawyers. However, we’ve chosen much higher callings. DH is a high school math teacher and volunteer firefighter. I am a registered nurse at an assisted living facility for disabled veterans. We prioritize impact over income.

Sure, well, now you're just stating the obvious. It's well-known that the levels of intelligence, ambition, EQ, endurance (ability to work 80 hours/week for years on end), etc. are roughly identical among seven-figure law partners, high school teachers and nurses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. $22.5k current match. 10 years ago it was a lot less. Can't active trade with 401k.

I'm 46 and have something like $500k in my 401k. Never had a match, went to law school so started very late. Took a few years off where I wasn't contributing. DH has a match and I think has something like $800k in his. Both of us make over $1m a year, and we've got $8m of savings. But 401k is not the place where the value is.

You have an HHI of $2M+ and you only have $500K+$800K in your 401k and $8M in savings total?!? You’re either spending way too much or you’re terrible at investing.

DH and I are about your age and we only have an HHI of $150K, but we have $5M in savings total, most in a 401k (Roth). Our savings is 33X HHI and yours is only 4X. Wow. In another five years our NW will probably be more than yours. You’re a lawyer, though, so not particularly clever or good with numbers.

DP. Um, your combined income is $150K in your mid-40s in a HCOL area. Many people would consider you underachievers—or at best, middlingly successful—yet you have the audacity to attack someone making 10x your income as being “not particularly clever?” Interesting.

We could easily be making $2M-$3M per year in W2 income, slaving away as deceitful and despicable lawyers. However, we’ve chosen much higher callings. DH is a high school math teacher and volunteer firefighter. I am a registered nurse at an assisted living facility for disabled veterans. We prioritize impact over income.

Sure, well, now you're just stating the obvious. It's well-known that the levels of intelligence, ambition, EQ, endurance (ability to work 80 hours/week for years on end), etc. are roughly identical among seven-figure law partners, high school teachers and nurses.

Nobody is impressed by all you clowns bragging about how much money you allegedly have. Same goes for the people who think they're the smartest person in the room. Neither of you have any class.

[Anonymous]

I’ll bet OP thinks they’re only middle class and barely scraping by in the DMV.

[Anonymous]

The OP is a troll. Given 401k maxes, even with a generous match, there is no way they EACH have over $1M in their accounts unless they started contributing in elementary school.

[Anonymous]

Anonymous wrote:my daughter (no husband) has a million (without parental help.) she is 32.

She may have a million, but she doesn’t have a million in her 401k

[Anonymous]

Definitely a troll.