Reply to Super-savers in 401(k) - what are your retirement plans?

Forum Index » Money and Finances

Reply to "Super-savers in 401(k) - what are your retirement plans?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Do you hold 100% of your retirement in cash?  or 0% return?  In your hypothetical, thats how you end up at 1.2M.  assume 7% and you're at 2.5M   over the last 10 years the s&p has returned 13.9%.

So I don't know what to tell you.  I'm 40.  My company matches 100% up to 12% of my salary. [b] I started at ~60k 20 years ago[/b], only hit max contribution last year, most of my part is post tax.  I have over 2M (just me) in my retirement account from nothing other than contributions to my company plan.    If I keep my contributions at the current level (which I won't, it will go up from here along with the caps) and estimate a conservative 5% return, in 20 more years I will have 6.7M.  If returns are what they have been for the last 20 years, I'll have 13.1M [/quote]

Uhhh...nice try. Thanks to a PP, we know that the [b]401k contribution limits 20 years ago were $11K + $29K = $40K[/b]. How did you start at $60K 20 years ago?!?!

2002 | $11,000.00 | $29,000.00 | $3,000.00 | $200,421.16

[/quote]

Pretty sure PPP means they started at a salary of $60k ~20 years ago, since they were expressing contributions as a percentage of income.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics