What is your age and how much money have you saved in your 401k/403b for retirement?

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Between the outright lies, the trust fund folks and the folks who can’t save a dime I’m not sure what you’re hoping to learn here. There are multiple studies which show the average retirement saving by age. Another general rule is to save 20% of your AFTER TAX income for a comfortable retirement.

There are many factors that effect how much one saves. These —— measuring posts are rarely useful.

likesmarthelpful

Obviously. there’s no guarantee for anything. The likelihood it won’t exist is not that significant though.

26, $2.2m in 401k and $426m in property investments. Started working in September had no job prior.

funnylikeuplifting

It’s a joke 😂

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53 - Grew up in poverty. Married with a baby when I was 18. Wife has been at home and doing volunteer work for the past 22 years. Over $2.3M in 401(k) and other retirement accounts. $1M in real estate. $300K in savings/cash. Donated over $900K to charities during the past 30 years. No debt.

likeuplifting

Bro you guys are made. Congrats on your hard work you deserve it.

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I'm confused what insight you intend to gain from this outside of validation.

Will vary greatly because some people didn't have to pay for school. Or others left their employer and rolled their 401k into their IRA. Or went to grad school like MBA and contributed less. Also depends how much is traditional vs Roth.

Invest what you can afford to invest. Doesn't matter what others are doing.

likeupliftinghelpful

So y’all are basically RICH RICH up in here and I can’t stand it. Must be nice

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likefunny

Partner 1: good for you! It looks like you worked hard to get where you are. Any tips for us?

23

39,000 in 401k (I started working right before my 22nd birthday, and I’m at home right now, with no student loans)

likeuplifting

If at home, that would definitely help

26 $35K

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At only 26yo???

58, Managing Director, 4.2 Million in 401K/IRA, 1 Million in brokerage account, 900K in real estate, no debt, kids off the payroll.

likefunnyuplifting

29 - 18k in 401k.

Based on this thread, apparently I’m way behind everyone else. Impressive that everyone on here has so much cash/savings.

likefunny

You are not behind. Compared to national averages you’re doing fine. I think you’ll find that your savings do not grow linearly. After paying off student loans, car note, and progressing from senior to manager pay scales I watched my savings take off. Be mindful of savings, max your 401k/IRA as soon as you feasibly can, and watch out for lifestyle creep once you’re making that gaudy lower middle manager money.

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There about 100 of these on the personal investments bowl if that is of any help. Why just 401k and not all investment accounts, just curious

likesmart

I have found a lot of useful info there.

29 No IRA, 30k in NFTs ~150k in crypto

funnylike

24. $14k in IRA, $6k in 401k, $1k in crypto 😈

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Invest in egld

24, started at my firm Nov 2020, have 9.5K in my 401k. I’m living paycheck to paycheck, but saving is a big part of my strategy. I remember an economy professor in community college saying “the best option when you run out of retirement money and don’t want to work, is to drop dead” which I found humorous.

likefunny

40 - 940k in my 401k and IRAs

likeuplifting

32 - 60k total in everything lol shietttt

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Oh you better believe it lol I think it’s going to take more than 20,500 a year to catch up though.

40/$375k

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I didn't really start saving until I was 27 because I had school loans (undergrad and grad), could not live at home/no help from parents. 39 and 400k in 401k. Bought my first home at 35, in the city.

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38- 650k

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Was a sr mgr- left a year ago for industry

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33 - $215k 401k, $300k other investments, $250k home equity … not too bad for starting at less than $5k in my bank account when starting KPMG (no inheritance or any family help).

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Who cares about 401K balance when plenty of millenials will inherit generational baby boomer wealth to pump retirement/pay off mortgage..

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EY11, good luck getting your kids to help you out in old age with that attitude.

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48. 1.2MLN in rollover IRA, 750k in 401(k), rental with 450k equity, primary with 500k equity (my 50%). I started my IRA at age 14 with babysitting money thanks to my dad and maxed everything each year since.

likehelpful

I've done the same with my son..18 with 3k in a Roth..it's a start...and he will graduate college debt free..

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