Reply to Only 100k in 401k at 50

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[quote=Anonymous]You are doing great OP.  Go to bogleheads forum to learn what to invest your money in.  Here is what I would do:

-Keep investing as much as you can in your 401K.  This money grown tax free.
-Keep putting money in a Roth IRA if you can.
-Make sure you have an emergency fund.  Try to save 6 months of expenses (not salary).  Keep in in a High Yield Savings Account (HYSA).  This will get you through most emergencies.
-With any raise or windfall add more (keep half of any raise for something fun and save half)
-Set aside $100 paycheck for something fun (a family trip, etc) now that you earn good money.
-Don't overspend on cars. Basic is best for everything.  
-Don't spoil the kids out of guilt.  Encourage the kids to babysit and dog-walk etc for pocket money.
-Try to work to at least 67 (full retirement age for social security for your age) or 70 (max benefits for social security)

If you do these things you will have a comfortable retirement and future!  You will be setting a wonderful example for your kids too![/quote]

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