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Reply to "Only 100k in 401k at 50"
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[quote=Anonymous]I only have 100k in 401k at 50. Please tell me I am not screwed. I have been working paycheck to paycheck pretty much since I graduated HS. I didn't go to college. However I started a new job this week and my best job so far and highest every salary $150k. I plan to save as much as possible and max out 401k. I also opened a Roth IRA and plan to maximize it as well. I am not married but I have 2 kids. I won't be able to help them for college. It's a shame because they are both very smart. My daughter for example is in 6th grade and has a 99% average. I know it's only 6th grade but she already told me she is going to Harvard. I do have a 529 for both of them $2k for each. It's nothing. I haven't managed my life well up to this point. But I do want to save every penny for the next 15 years. I don't plan to ever retire, but for planning purposes I am setting 65 as my retirement age.[/quote]
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