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Reply to "How much should be in 401k at age 40?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Let me give you one possible scenario: If you have 300k now and max your own contribution every year, and have an employer contribution of 25k. You 401k will become $1.6M in 10 years assuming 9% annual return (so you have to take the risk and invest aggressively).[/quote] WHAT EMPLOYER CONTRIBUTES 25K YEARLY[/quote] I get 30k per year from my employer.[/quote] Like a 125% match?? Or is this firm profit-sharing?[/quote] Combo of match and across the board contribution. Everyone at my company gets a % of their base. This is common in my industry… ranges from 6-8% of base + a match of up to 4-5%. While this is much higher than many, there are some sectors where this would be at the low end.[/quote]
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