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]To be fair, some people with very big 401ks have some luck. My wife for instance her company only matched in company stock. And a stock that has outperformed the last 20 years the stock market. So in her case no Warren Buffet just lucky did not work at Enron, Worldcom, Tyco, Lehman Brothers, Bear Sterns as would have lost her whole match.

Imagine if you worked at Google and they did match in employer stock how much you have if you worked there 10 years.

[/quote]

Is it luck or is it knowledge of a particular sector, extensive due diligence (not just reading a bunch of articles), investing skill, etc.[/quote]

Every study has shown that in almost all cases it boils down to luck. But it's hard to assess when the only thing you are doing is hitting a buy or sell button. The only people I know who actually think they can beat the stock market lack self awareness in a big way.[/quote]

They also don't come here to brag when their "one special trick" stops working (because it was just luck or most likely completely made up in the first place). Don't fall for the FOMO, as is the case every time this comes up, if they could continually beat the market, they wouldn't be doing their day job. [/quote]

There’s a lot more to it than just hitting buy or sell button. That’s amateur hour. There’s the research, which takes a lot of time and due diligence. And I mean real extensive due diligence on the business, people, market, competition, earnings, etc. And then there is staying on top of your investments while you own them. I don’t have to quit my day job since I’m now “retired” at 43 yo because of the income produced from our other investments. The Roth 401Ks and IRAs are just the cherry on top when we reach 59 1/2. We’ll probably never even touch them.[/quote]

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