401k balance with age?

Apr 16 39 Comments

Hey folks,

I am in my mid 30s and have 130k in 401k accounts. I started contributing late and now I am maxing the limits. About 10% of my salary goes to 401k. Thinking if I am overthinking this and if I should just contribute 6% instead!

Could you pls share your age, 401k bal and your contribution% as of today?

Also where are you guys investing this money? Which etf/ stocks/ funds ???

comments

Want to comment? LOG IN or SIGN UP
TOP 39 Comments
  • eBay
    ๐Ÿคจ ๐Ÿง ๐Ÿคจ ๐Ÿง i

    Go to company page eBay

    ๐Ÿคจ ๐Ÿง ๐Ÿคจ ๐Ÿง i
    54 : 4 million
    Apr 16 1
  • Amazon
    Glibster

    Go to company page Amazon

    Glibster
    Age:41. 401k ~235k. Not sure if that's good or bad. But it's a small part of my overall plan.
    Apr 16 6
    • Twitter
      thigh2thy

      Go to company page Twitter

      thigh2thy
      Iโ€™m not taking about that, Iโ€™m talking about the 401k to which itโ€™s hard to catch up bc contributions are capped
      Apr 17
    • Amazon
      Glibster

      Go to company page Amazon

      Glibster
      That's why focusing on a 401k as a retirement plan isn't smart, unless you day trade as a part time job (and are really good at it) or want to work until you die.
      Apr 17
  • Amazon
    XynDf

    Go to company page Amazon

    XynDf
    Contribution % doesnโ€™t really matter as long as it is high enough to contribute the max amount per year. This has pretty major tax benefits.
    Apr 16 2
    • ExxonMobil / IT
      not@exxon

      Go to company page ExxonMobil IT

      not@exxon
      This. Contribute the max if you can afford to. And with any of our jobs we definitely can afford to. Worst case you have to make a slight lifestyle adjustment. Nothing major though.

      Age 26: $130k in 401k
      Apr 16
    • Meta / Other
      AE A-XII

      Go to company page Meta Other

      AE A-XII
      I do want to point out that the more you can contribute upfront in a year โ€” the sooner you can get the benefit of the full balance compounding. I try to max out my 401 and back door IRA by June/July every year so I can get bigger gains earlier, longer.
      Apr 16
  • AT&T
    exAt&t

    Go to company page AT&T

    exAt&t
    Couple thoughts. Iโ€™m 50 and up until 5 years ago I just contributed the 6% which is what the company matched (80%). 1. It depends on if you want to reduce your taxable income more. 2. It depends on if you have any debt. If so contribute the 6 and use the rest to pay of debt including car payments. 3. Depending on current income you could contribute to a Roth IRA outside of the 401k. 4 make sure you have a good reserve of cash.

    My 401k balance is just over 1M. I started maxing out my 401k in 2017 at 45 and the balance then was under 350k. I also invested well and moved a ton of money out of AT&T stock into Netflix, Amazon, apple ect. When they were cheaper and bought mdb when it was 40 a share. After maxing out my 401k, I did invest some in a separate brokerage and also saved a lot in cash.

    I didnโ€™t start saving heavily until late because I was putting a partner through school and that Included paying all the bills. Once that was all done I put all of it towards savings. Whatever you do with the rest aim for diversification.
    Apr 16 0
  • Apple
    Shak786

    Go to company page Apple

    Shak786
    37: 620k, 2.4m in non retirement portfolio
    Apr 16 6