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Reply to "Tell me how much you have saved in your 401K at age 40."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am 39. I have 90k in my 401k and about $280k in cash. (I know I need to do something with the cash but I'm extremely risk averse.). DH has a little less in his 401k and a little more in his investment account. [/quote] You should have been maxing out your tax deferred investments. No way in hell you max'ed out if you have that much in cash. Lower your tax base.[/quote] +1. You are actually losing money slowly every day by holding on to that cash since there is nothing you can have it in that can keep up with inflation. I'd max out 401k, backdoor Roth, HSA and then open a taxable Vanguard and throw all that into a simple 3 fund portfolio except for what you keep aside as an emergency fund (6-12 months of expenses in cash).[/quote]
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