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]

New poster, but your confidence in basic arithmetic misplaced. During the covid crash my DH did a big 401k roll over and put 80% of our combined account into Xom at $35/share. it’s at 120 now and pays about $4 a share in annualized dividends that we reinvest. we have completely stopped contributing to our 401k because it has essentially run away all on its own. We capped the xom at ~30k shares and that pumps ~120k/yr into our 401k.

I know it’s difficult for you to grasp, but many people don’t care to waste
money on safe index funds, especially not when they are young. [/quote]

That's such an amazing strategy that absolutely no one in the investment game recommends it. Not people with decades of experience on Wall Street. Not economists from U of Chicago. Not quants educated at MIT. Nobody.[/quote]

Actually Warren Buffet says diversification is for people who don’t know what they are doing. Of course, those other types you mention don’t recommend it. It’s hard and most people are too lazy to do the work. But for some willing to put in the proper DD and take the risk the payoff can be huge.[/quote]

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