Well. I thought we were doing pretty well until I read this thread...

Fed. worker, with $160 total income (pre-tax) between my wife and I.

46, with $408,000 in 401k-style accounts, plus a pension earned of approx. $40,000. (I can start collecting as early as age 50 if I am no longer in federal service).

We have $75,000 in 529 college savings plans for DD #1 in 8th grade, and $50,000 for DD#2, in 4th.

We have a small emergency fund, but that's about it - no rental properties or other savings (we do have $300,000 in home equity, but I am treating that as not real money since we have no intention of moving).

On the plus side, virtually zero debt aside from our mortgage.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:36 and 37 with $625K in Roths and another $175K in non Roths.

How did you get so much? Isn't the limit $5500k/yr?

We rolled over 401ks and paid a boatload of tax. But to never pay tax on that money again. It is literally worth millions.

At least until Congress claws that back. Which it will some day.

I hear this a lot. To change the law retroactively as to money I already paid tax would both be a taking prohibited under the 5th amendment and an possibly an ex post facto law prohibited under article 1, section. 9.

And I'm sure you're a part of a well regulated militia too.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:36 and 37 with $625K in Roths and another $175K in non Roths.

How did you get so much? Isn't the limit $5500k/yr?

We rolled over 401ks and paid a boatload of tax. But to never pay tax on that money again. It is literally worth millions.

At least until Congress claws that back. Which it will some day.

I hear this a lot. To change the law retroactively as to money I already paid tax would both be a taking prohibited under the 5th amendment and an possibly an ex post facto law prohibited under article 1, section. 9.

I don't claim to have any expertise on the ex post facto provision, but I do know a thing or two about the takings clause. And I can think of no case in which change in tax law has been cognizable as a taking.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:36 and 37 with $625K in Roths and another $175K in non Roths.

How did you get so much? Isn't the limit $5500k/yr?

We rolled over 401ks and paid a boatload of tax. But to never pay tax on that money again. It is literally worth millions.

At least until Congress claws that back. Which it will some day.

I hear this a lot. To change the law retroactively as to money I already paid tax would both be a taking prohibited under the 5th amendment and an possibly an ex post facto law prohibited under article 1, section. 9.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:36 and 37 with $625K in Roths and another $175K in non Roths.

How did you get so much? Isn't the limit $5500k/yr?

We rolled over 401ks and paid a boatload of tax. But to never pay tax on that money again. It is literally worth millions.

At least until Congress claws that back. Which it will some day.

35 and i have 55k. Way behind, but spouse has over 100k, and I am in a position to save a lot going forward (around 60-70k a year invested in stocks).

Anonymous wrote:

Anonymous wrote:39 - 310,000....and a teacher! Got an early start thanks to my Dad nudging me.

when did you start and how much were you contributing over the years?

i'm 30 and have between 80-90K.

PP here. Just checked and I actually have 95K. That was a pleasant surprise.

Anonymous wrote:

Anonymous wrote:36 and 37 with $625K in Roths and another $175K in non Roths.

How did you get so much? Isn't the limit $5500k/yr?

We rolled over 401ks and paid a boatload of tax. But to never pay tax on that money again. It is literally worth millions.

Anonymous wrote:$0 (zero), saving outside 401k plans. We're 37 and 38, HHI = $200k. By the time you'd want to cash out your 401k in 20-25 yrs it'll be somehow confiscated anyway so.

http://www.newswire.net/newsroom/financial/00079064-ira-401k-takeover-risk-by-government.html

Great point....now how many layers of tin foil do you recommend to keep the government from reading my thoughts?

$0 (zero), saving outside 401k plans. We're 37 and 38, HHI = $200k. By the time you'd want to cash out your 401k in 20-25 yrs it'll be somehow confiscated anyway so.

http://www.newswire.net/newsroom/financial/00079064-ira-401k-takeover-risk-by-government.html

34, about $150k, but have another million and a half in non 401k.

Anonymous wrote:What is the point of all of these on line pissing contests?

To see how screwed you are...or at least I am. HA HA HA HA!

We're both 40. 401k as of yesterday =1.1 mil. On schedule to make it 10 mil when we plan to retire at 60 if the annual returns average 7% in the next 20 years.

It usually means you can keep their matching contributions. If you leave the company before becoming fully vested you can lose the matched contribution

Stupid question: what does it mean to be "vested"? I worked for a fortune 5 company for over a decade and made putmrather well during that time before I left to be SAH. They fortunately matched the 401K contributions so I have a fair amount there, and I remember at year 10 I was told I was "vested". Does this guarantee a pension of some kind on top of my 401k? (Good question for the benefits hotline, but hell it's Staurday night and Both I and you are bored....)