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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]We hit 1M at around 38. Keep saving![/quote] It’s hard to make the math work on this brag.[/quote] Disagree. It’s definitely possible to hit $1M at 38. If they each contributed the max yearly to their 401Ks and invested wisely or were lucky or both then I’d say they actually are not doing that well.[/quote] You can disagree all you want, but even maxing out and a generous company match for 16 years straight you’d need to outperform the S&P for each of those years with a 10% per year gain to the S&P’s 6% per year over that period. That sort of performance is exceedingly unlikely which is why it’s hard to make the math work. Outperforming the gains of the S&P by 67% (10% vs 6%) on average in your 401k for 16 years straight would really be something. [/quote]
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