Reply to How many people max out BOTH the 401k and 457(B)?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not 457, but max out my 401k and Mega Roth. 24,500 401k +10k employer match +34,500 Mega Roth. Total annual contributions  $69,000.  My DH does 401k, plus his 8k roth catch up. RMDs will kill us. [/quote]

Same with us, plus we max HSA and don't spend it. We've been maxing the federal limit for a decade. Both late 30s with 3.8M in combined retirement funds. I don't know what we're going to do with it all, but we keep maxing it every year since it seems like leaving money on the table not to. [/quote]

Dear Simpleton:

Thank you for so blatantly revealing your stupidity. It is mathematically impossible to have accumulated such an amount in retirement savings by your late 30s even across four separate 401k, 403b, 457, or Roth accounts and with employer matching. You’re not even smart enough to provide improbable numbers.

Even if only the spirit of your post is true, this strategy makes you look like a total fool. You’re either so dumb that you can’t figure out how to balance near-term spending with long-term investing or so indolent that you’re hoarding extreme amounts of money to retire early and escape a job for which you’re clearly not a qualified fit.

It’s all about life choices. Perhaps in your next incarnation, you’ll roll the dice more favorably. Sigh.[/quote]

I disagree. My spouse and I are early 40s and our 401Ks (both regular 401K and Roth 402K) & Roth IRAs are worth well over $5.5M. We maxed out contributions every year we would when we started working. 
It’s called understanding what’s going on around you and making good investment choices based on that understanding. Sorry you suck at investing PP.[/quote]

It actually doesn’t sound that impressive; rather you are extremely privileged that both of your could contribute $45.6K a year at 22:

[i]A 40-year-old who maxed all retirement vehicles (including mega backdoor Roth) from 22–40 would need roughly an 8.5–8.7% annual return to reach $2.75 million.[/i][/quote]

PP here…you’re making a few incorrect assumptions. We are 43/42 yo.  I said the combined value of our three types of accounts (401K, Roth 401K, & Roth IRA) was $5.5M. We were not privileged. Just smart in our investment decisions picking the right stocks early where we could buy many shares on the cheap that eventually went parabolic. The Roth IRA alone is worth over $3.5M. As soon as we made too much $ for direct Roth contributions we starting doing Backdoor Roths. Look up Peter Thiel and/or Ted Weschler for some inspiration. Their Roth IRAs are worth $5B+ and $264M+ respectively starting with the normal Roth/IRA contributions that everyone else could make early in their working lives. Does that fit your model? I’m guessing no. They are excellent investors. Unfortunately our Roth investments haven’t performed as well as theirs but we’re not complaining.[/quote]

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