I'm 29 and I have about $15K in mine, HHI of $58K, single, one 5yo kid, no support from other parent.

I also have an additional $15K between my Roth IRA and another retirement account from a previous job that I need to roll over.

I feel very, very, very behind. But there's not really any way I can contribute more right now. I haven't saved anything for DC's college either, I've focused on the 401K since my employer matches 5% and I'm reluctant to give up that "free" money. I'm the right path, it's just very slow going.

Anonymous wrote:48. Single. One child. Almost nothing. What should be my first plan of action?! Help!

I'm 41 and only have about 30k. The recession destroyed me and set me so far back it kills me. I met with a financial planner this year to get me on a solid plan. I'll never fully catch up but I can certainly make it a lot better with the plan I'm now on. I would highly suggest meeting with a planner. Always amazed more people don't answer these threads with the same concerns we have.

OP - I make a similar salary - $150 now, started at $52 12 years ago.
I'm 35 and I have saved a little over $300k.

However, there is no way I could have done that in DC. I lived in a mid-size midwestern city where I paid $500/mo in rent until I was 29. I moved to Chicago where I paid $800-1100 in rent for the next 4 years - and then I moved to DC.

That allowed me to save a lot early on and benefit from the recent stock market gains.

Anonymous wrote:48. Single. One child. Almost nothing. What should be my first plan of action?! Help!

Lotto? Mega Millions is up to $257million. A dollar and a dream baby

48. Single. One child. Almost nothing. What should be my first plan of action?! Help!

I am 45. $230K in 401K. $115K in IRA. $670K in inherited IRA.

39 and 46, HHI $120k, IRAs and TSP combined $425k

Anonymous wrote:I am 38 and I just found a teaching job last year after many years of looking. So, I only have around $1000 or so in mine but once I pay off my student loans (probably in the next 6 months), I will contribute more. So, I'll be teaching until I'm dead but I am grateful to finally have found a position. No DH. I'm a single mom.

You will make it. You're doing great, especially if you also have a pension. Hang in there.

To the PP who mentioned the pension, I have two but have enough paranoia about them that I have 270k in 401(k). I'm 40.

49. DH has 500k in thrift savings. I have 400k in a tiaa cref account.

10:54, that is a great question. I was told by a finance person at NIH that I couldn't contribute to my ROTH IRA. He didn't mention anything about a SEP. He suggested investing in the stock market outside of a retirement vehicle, which I didn't do.
Oh well, I should have done more homework. But, it this was in 2006-2008 when the market tanked, do maybe it's better I didn't! When I got a "real" job after my fellowship, I got in in the bottom of the market!

Anonymous wrote:I'm 34 DH is 37. Combined, we have about $205K spread out over TSP, 401(k)s and a ROTH.
I was uneligible to contribute to a retirement plan when I was in my postdoctoral fellowship program, so I feel like I'm a little behind.
Our HHi is 160K.

I'm surprised you couldn't do a SEP-IRA for a fellowship. When my DH did one, our accountant advised us to set up a SEP.

PP again. I also have a ton taken out of each paycheck for my pension.

I am 38 and I just found a teaching job last year after many years of looking. So, I only have around $1000 or so in mine but once I pay off my student loans (probably in the next 6 months), I will contribute more. So, I'll be teaching until I'm dead but I am grateful to finally have found a position. No DH. I'm a single mom.

I'm 34 DH is 37. Combined, we have about $205K spread out over TSP, 401(k)s and a ROTH.
I was uneligible to contribute to a retirement plan when I was in my postdoctoral fellowship program, so I feel like I'm a little behind.
Our HHi is 160K.