Anonymous wrote:

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

Unless you started making bank at eight-years-old and maxed out every year after that, I don't see how this is possible.

Yeah, I call bullshit too.

Never had a job that offered retirement. I was lucky if they even paid me or that the check they wrote didn't bounce. There are jobs that cost me more to go to work than to stay at home.
I ended up buying Bitcoin and Tesla stock and then I retired. I would never had my money die in a 401k.
Is anyone still NOT in Bitcoin and Tesla? How can this be?!

Probably have access to Mega Backdoor Roth. I have about $1M in my 401k + Roth IRA combined at 30, but I've been maxing out the mega backdoor Roth since I was 24. There's probably a lucky investment or two as well.

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

My wife and I are 60 and our combined 401ks are about $700k.

I guess we're somewhere below the new lower class.

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

So you are buying meme stocks in your 401K, lol?
Total 401k limit this year is 66K, hard to believe that you have been doing this since you got the first job and most employers do not kick in 40K for newly hired serfs either so my assumption is that you cannot do math and or like to troll.

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

Unless you started making bank at eight-years-old and maxed out every year after that, I don't see how this is possible.

Anonymous wrote:According to the article, approximately half a million people are 401k millionaires. Therefore many millions more people are not 401K millionaires. It does not take a millionaire to figure this out.

Right? So much money but so little brain.

Anonymous wrote:Well, you are low class. Nothing to do with income and savings.

Average for 20s is 85k. Average in your 60s is 570K.

You are an entitled little thing and need to get out of your bubble before all that money that came to you so easily is just as easily taken away.

According to the article, approximately half a million people are 401k millionaires. Therefore many millions more people are not 401K millionaires. It does not take a millionaire to figure this out.

My husband is, I'm not. It sounds like so much, but our house is worth a million, and it's strictly middle class.

I don't watch our 401K totals on a daily basis but we should be 401K millionaires by now. We certainly weren't in our 20s because we didn't have 201Ks until well through them as we worked for non-profits and then went to grad school. Most people aren't 401K millionaires in their 20s. Or ever.

Well, you are low class. Nothing to do with income and savings.

Anonymous wrote:https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?

+1 isn’t this so common in educated, dual income couples?

https://www.morningstar.com/news/marketwatch/20241205305/millennials-are-finally-joining-the-401k-millionaires-club-heres-how-they-got-here

Srsly. DH and I are still in our late 20s and each of us has $1M+ in our 401ks. Is being a millionaire the new lower class?