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Reply to "Is anyone NOT a 401k millionaire?"
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[quote=Anonymous]I hit a million in my 401(k) last year at age 51. I've been contributing to it since I started working at 28 (did some Army before college) and pretty much maxing my 401(k) out each year until very recently. However, because a 401(k) is tax sheltered, I decided to have all my taxable brokerage account money in the S&P500, which I've contributed to basically over the same time period but not as much per month as my 401(k)...started out at $50/month and got as high as $2200/month. Now I'm $500/month. But because my brokerage account was 100% stocks, my 401(k) held a large proportion of bonds and also high dividend paying mutual funds, REITs, etc. So...maybe didn't do it the best way but I do have over a million in my 401(k) now and I just crossed a million in my brokerage this year. I was/am too scared to go into individual stocks, Bitcoin, etc so it was all dollar cost averaging mutual funds....for almost 25 years. Still a long way to go I feel.[/quote]
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