Anonymous wrote:OP here, thanks all for the many useful responses, particularly the wall street journal article.

I must say I'm baffled by the folks that have $400k, $700k, or $1MM+ in their 401ks. I've maxed out for almost my entire working life (with a couple years out for grad school) and am no where in that ball park!!

I max out each year, plus my company puts in 6% of my salary, so I am investing almost $30K a year, just in my own 401(k), not IRAs or spouse's retirement investments.

Anonymous wrote:OP here, thanks all for the many useful responses, particularly the wall street journal article.

I must say I'm baffled by the folks that have $400k, $700k, or $1MM+ in their 401ks. I've maxed out for almost my entire working life (with a couple years out for grad school) and am no where in that ball park!!

How old are you? I'm 46 and have been putting money in a 401(k) for 20 years now. I have $580,000. I have maxed out each year starting with 1992.

I would be stoked to have as much as you "not enough" posters. I didn't start saving for retirement until 30. Before that, I was in school and/or busting my butt just to make ends meet. It wasn't until I got married and bought a house that retirement planning really even entered my mind. It just boggles my mind that at 25 you were all mature/financially stable enough to be maxing out your 401k and thinking about your Roth. But good for you. I'm jealous.

Anonymous wrote:Just so everyone doesn't get completely disheartened, remember that it takes a lot longer to go from 0 to 1x salary than it does from 5x to 6x, or 9x to 10x. It is daunting, but not insurmountable.

So annoyed. I've been stuck between 2x and 4x for a decade now (cut back on contributions due to medical bills and returns have stunk). At least I put in the money when I had the chance which is some kind of lesson.

Just so everyone doesn't get completely disheartened, remember that it takes a lot longer to go from 0 to 1x salary than it does from 5x to 6x, or 9x to 10x. It is daunting, but not insurmountable.

Anonymous wrote:Early 40s, between 401k and IRA about $750k. Not enough.

I am 40, and have about $580,000 in my 401k. Been at this job for 11 years or so. I have maxed out each year, and receive a very generous match. I've never contributed less than $30,000 per year to my 401k.

My biggest regret is that I didn't save more aggressively in the 4 years I was working before my current position.

from last year, this article says 1.4X http://money.cnn.com/2011/12/22/pf/expert/retirement_savings.moneymag/index.htm

how funny - I just went to find the 1.5X salary number for you, and it appears the advice being given now is 1X salary by 35. http://www.cbsnews.com/8301-505144_162-57511179/how-to-do-a-simple-retirement-savings-check-up/

OK, these numbers only apply to that person's situation. The OP needs an indicator to go on, not straight dollar amounts.

The general consensus is that by 35, you should have 1.5X HHI. We are 35 this year and probably right around having one year's worth of salary in retirement accounts - mostly IRAs (Roths and rollovers from other jobs) + a small Simple IRA from my part-time job + my husband's couple month old 401K from his current job he started this summer + a % of a couple other investment vehicles our FA runs for us. We started getting more aggressive right as the stock market took a dive. Glad to hear someone else in this thread say they are in the same boat re: lost money in the crash. I knew we couldn't be the only ones.

I have $300K in my work 401(k) now - I'm 36. Been maxing out for years, 95% or so in stocks. Also have a generous company match. DH has a bit less due to job switching - maybe $220K or so. No other substantial retirement accounts, and no pensions.

It's really not that much. If you maxed out each year for the past 15 or so years, you would have had over $200K just by putting the money in MMA. Add in the company match, and I'm maybe even on my contributions over the years.

Anonymous wrote:I'm curious if folks are counting ROth IRA's, or is the common answer just the work 401k. Thanks.

Any replies, try and list the time of your previous response. Thanks!

Same question here. Also, are people counting their 401k and their spouse's altogether? I am having trouble understanding how someone can have 700k+ in just a 401k by themselves in 10 yrs. Even if you max out and aggressively put it into stocks, that's a huge growth rate.

I'm curious if folks are counting ROth IRA's, or is the common answer just the work 401k. Thanks.

Any replies, try and list the time of your previous response. Thanks!

OP, do you not have it in stocks? Most of it has to be stocks if you want it go grow.

OP here, thanks all for the many useful responses, particularly the wall street journal article.

I must say I'm baffled by the folks that have $400k, $700k, or $1MM+ in their 401ks. I've maxed out for almost my entire working life (with a couple years out for grad school) and am no where in that ball park!!

Anonymous wrote:I'm in my mid-30s and will likely have just my 401k + SS to live off of when I retire one day. How much is a good amount to have in there at this stage? How much do other people have in a 401k by their mid-30s? Thanks!

We had 2X gross salary at that age and we were behind. We are ten years older and have 4X gross salary now. There is a number to strive for - 10X gross salary by retirement? - that a bona fide financial planner can help you with. Everyone's situation varies wildly though - will you or your spouse need to financially support parents or other elderly relatives later in life, or do you think you might inherit money? Are you planning to assist your children with college expenses? What do you foresee your retirement lifestyle to be like - lots of travel and golf, or a more modest lifestyle?