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][quote=Anonymous][quote=Anonymous][quote=Anonymous]I just turned 30 and feel like we are way behind.

I have 25k in mine, no employer match. DH has about 50k. 12k cash in savings. [/quote]

Do not worry!  I went from $300K in my 401(k) to a cool million in just a few months more than 10 years.  You have plenty of time if you start now and stick to the plan.[/quote]

Another post here.  This makes me feel better. I'm 33 with around 280k in 401ks.  I feel behind for my salary (175k).  However, between my contributions and my employer's I'll be contributing 50k a year going forward.  I'm hoping that by 40 I'll be caught up!  [/quote]

What field are you in? I have never heard of a match so generous.[/quote]

Finance.  It's an 8 percent match.  Then a 10 percent match into a pension.  If you leave the pension sum can be rolled into a 401k.

The breakdown is:
18k - my 401k contribution 
Approx 14k - employer contribution 
Approx 18k - pension employer contribution

Is approx 50k.   
[/quote]

I work as an in-house attorney for a corporation.  We each get a match of 9 percent of our salary.  So for the past few years, I've hit the IRS max of $54,000 per year in my 401(k).  I haven't always worked here though and just worked part-time when my kids were younger, and so at age 47, my 401(k) is at $400,000.

For those of you in your 30's with low amounts, keep the faith.  I start to notice a real snowball once you get a critical mass in your account (like $200,000).  The compounding really starts to take off. [/quote]

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