Reply to Come in if you're 40 - how much in your 401k?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]110k and 90k.  We’re both 39.  Late start due to over 400,000 in law school loans to pay off.  We didn’t do any investing in out 401ks while paying down the loans.[/quote]

I am the PP who said we have about 1.7M combined.  I am 44 and DH is 43.  I also have law school loans; however, we looked at the rate I was paying 4.5% on highest ones (2nd one is lower) and our return in 401ks were higher on average.  Also, before we refinanced our mortgage into a 20 year fixed, we had a second mortgage that was higher than 4.5%.  So we paid off mortgage first.  Also, your AGI is lowered by 401K contributions.  [b]Even if you put in catch up contributions you will never make up the growth that compounded returns do[/b].  Right now I have about $85K left on loans.  New mortgage is about 3.38% so now that child care expenses have dropped by about 1/2 we will probably tackle some of my remaining loans.[/quote]

If I recall correctly, we had over 150,000 in law school loans at 8.6%, another 100,000 at 6.8%.  So we made different choices that you did.  Is there any purpose in your comment above other than trying to make me feel bad?  Thanks.[/quote]

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