At ‘X’ years whats your 401k balance?

Dec 3, 2019 33 Comments

TC: 280k
401k: 304k
Age: 35

I started working in 2010 and started my 401k contribution in 2013.

Been thinking about my finances lately was wondering how others are doing?

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TOP 33 Comments
  • Walmart wowzie
    Ah shit. Here we go again !
    Dec 3, 2019 0
  • Google / Other
    iamgooglie

    Google Other

    PRE
    Apple
    iamgoogliemore
    13 years: ~660k in 401k
    8 years: ~140k in Roth IRA
    TC: ~300k (non SWE)
    Age: 39

    The number 1 rule of retirement clubs is: Max out.

    Use the backdoor Roth IRA if possible.
    Dec 4, 2019 3
    • McAfee
      bud29

      McAfee

      PRE
      Symantec, McAfee, Intel Corporation
      bud29more
      Can you elaborate on the back door Roth IRA how that works? And how can you put in more than 19k in 401k
      Dec 4, 2019
    • Google / Other
      iamgooglie

      Google Other

      PRE
      Apple
      iamgoogliemore
      Your plan has to allow it but the IRS allows like 52k(? Might be slightly more now) between you and the employer. Yes 19k is pre-tax but if your plan allows you can contribute more (just not tax deferred).
      Dec 4, 2019
    • Wayfair Nfck20
      Mega back door is when you go above the 19k 401k limit to truly max it out at around 52k

      Normal back door is just rolling a traditional IRA into a Roth IRA to get around Income limits
      Dec 4, 2019
  • Google bjjD64!
    Isn’t this not very interesting given the universal contribution limits?
    Dec 3, 2019 2
    • Snapchat TCobsessed
      There isn’t universal employer match and not every company offers mega backdoor Roth contributions
      Dec 3, 2019
    • Facebook aSPL70
      OP
      Doesn’t mean everyone can afford to contribute 55k or whatever the IRS limits were for the past years.
      Dec 3, 2019
  • How do you guys have such high TC but shitty NW and 401k?? I have 5yoe and 200+ 401k
    Dec 3, 2019 3
    • Facebook aSPL70
      OP
      Glad you are doing great. Mind sharing how you got there?
      Dec 3, 2019
    • New / Eng bytec
      Someone is in a rush to retire
      Dec 4, 2019
    • Fully self directed; hit some big winners I guess it’s not sustainable just weird to see a lot of people not hitting the big returns over the past few years
      Dec 4, 2019
  • Cisco Hjkb55
    TC: 250k
    401k: 33k
    Roth IRA: 24k
    Net Worth: 105k
    Started working: 3 years ago
    Age: 23
    Dec 3, 2019 2
    • 250k tc for 3yoe here??? What’s grade and breakdown?
      Dec 4, 2019
    • Cisco Hjkb55
      Grade 8 SWE. I came in in an acquisition though. Base salary is 140k fwiw
      Dec 4, 2019
  • McAfee
    bud29

    McAfee

    PRE
    Symantec, McAfee, Intel Corporation
    bud29more
    TC :88k ( peanuts would be better)
    401k : 197k
    Age :34

    New TC starting 2020 : 221k
    Dec 4, 2019 0
  • Qualcomm suits
    TC: 140k
    401k: 48k (started 2017)
    YOE: 3
    Age: ~28
    Dec 3, 2019 0
  • Live Oak Bank
    Djkrs4533

    Live Oak Bank

    PRE
    McKinsey, BCG
    Djkrs4533more
    401k: 269k (started in 2013).
    TC 400k
    Age 37

    What's your match policy? I've got 5%
    Dec 3, 2019 2
    • Facebook jSHa71
      What do u do to make 400k TC at a bank
      Dec 3, 2019
    • Live Oak Bank
      Djkrs4533

      Live Oak Bank

      PRE
      McKinsey, BCG
      Djkrs4533more
      Mid market finance.
      Dec 4, 2019
  • AT&T MsdR32
    4 Yoe as SWE, worked at University before., 260 TC (not @ AT&T anymore), 150k 401k, 100k ira ( rolled an old 401k into IRA)
    Dec 3, 2019 0
  • Do you own a house
    Dec 3, 2019 1
    • Facebook aSPL70
      OP
      Bank owns my house 😀. Have 600k mortgage left on it
      Dec 3, 2019

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