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Reply to "Is anyone NOT a 401k millionaire?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class? [/quote] Troll. With annual 401k contribution limits of 23k, this is mathematically impossible after only 6-7 years in the workforce. Even if your employer offers a generous match and even if you chose to do a backdoor Roth.[/quote] Wrong. 23K of NVDA 6-7 years ago is worth $700K today. It is actually very easy for someone in their late 20s to have $1M+ in a 401k. Well done, OP![/quote] Whose 401K allows individual stock selection? Some offer “company stock” to employees but most are target date funds. Individual stock selection would be nice but most people would muck it up and lose money. Hence target funds so they take appropriate risks [/quote]
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