Reply to why do so few people have two million dollar 401ks/IRAs?

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Reply to "why do so few people have two million dollar 401ks/IRAs?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I started contributing to a 401k at age 23 at my first job after school and have been contributing ever since (99% of those years contributing the max) and I only have $1 million at 53. Guess I’m a loser, OP. [/quote]

DP. Wow. That isn’t very good performance based on what the market has done over those 30 years. Are you less than 50% percent in equities or been in and out trying to time the market? A max contribution from 1995-2025 should be twice that even with moderate risk allocation [/quote]

I was wondering about this too. I didn't have a 401k till I was 40 because I spent the previous 12 years working overseas. 45 now. The first year I nearly but not fully maxed due to also buying a house. I've been maxing since then. The 401 is almost five years old now and I already have over 200k in it. I do get a company match worth a few thousand each year and am sure that helps too. I do have the ability to select my investments and have been tracking the S&P based on Buffet's advice to just follow the S&P and not overthink it.

I also max IRA etc. [/quote]

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