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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]I think the rule of thumb for 40 is 3x your salary [/quote] Terrible rule of thumb and is completely unattainable for most people [/quote] How is it unattainable? If you make 100k, you think it's ridiculous to have 300k after 18 years of working? If you saved 10% of your income + company match, with below avg growth you would have well over 300k[/quote] Well for one, I spent my 20s making below $60k. In my 30s I made more, but also had 2 kids and over 5 years of daycare to pay for. [/quote]
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