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(Yahoo)   Start with 2 million?   (finance.yahoo.com) divider line
    More: Unlikely, Investment, Retirement, Pension, Retirement account balances, best friend, savings account, retirement account, Individual Retirement Account  
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1642 clicks; posted to Business » on 30 Apr 2022 at 5:02 PM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



11 Comments     (+0 »)
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2022-04-30 5:12:55 PM  
Boo change the headline to start with a billion
 
2022-04-30 5:20:34 PM  
A- Be the 401K manager or one of the fund managers
 
2022-04-30 5:34:22 PM  

hoodiowithtudio: Boo change the headline to start with a billion


Start with a billion and then buy an aeroline.
 
2022-04-30 5:39:18 PM  
Start with 2 million? Subby hasn't worked.

This is how you do it.
1. Be a wage serf from 18.
2. Max out your 401k contributions.
3. Keep working, working, working for 20-30 years.
4. Wait until age 40-50.

If you have 2 million, you'll never get a soul crushing office job that pays you enough to maximize your 401k contribution and have enough left over.

And if you had 2 million, you'd never keep doing those jobs for 20-30 years burning through your 20s, 30s and possibly 40s for somebody else who is out enjoying their lives and not working.

15 years used to give you pension and retirement. Know people who stopped working to take care of family and live off that.But, now it is about working, working and working until you die and have no time for anything else.

And, that is how you become a 401k millionaire.
 
2022-04-30 6:11:38 PM  
Currently have 1.2m wife 900k pension 45k per year plus ss. House paid off

I am 62 wife is 60 both still working prolly should be enjoying the time we have left.

My fear there will be massive upheaval here with a new fascist state and it will all go to hell.
 
2022-04-30 7:29:38 PM  
I've lost $350,000 in market value year to date in just my IRA.  Good thing I'm not retiring until ... October?!  Oh god, I'm farked.
 
2022-04-30 7:52:19 PM  

bigdog1960: Currently have 1.2m wife 900k pension 45k per year plus ss. House paid off

I am 62 wife is 60 both still working prolly should be enjoying the time we have left.

My fear there will be massive upheaval here with a new fascist state and it will all go to hell.


You have a 1.2 million wife?  She must be very nice.
 
2022-04-30 8:00:21 PM  

Uzzah: I've lost $350,000 in market value year to date in just my IRA.  Good thing I'm not retiring until ... October?!  Oh god, I'm farked.


Ha, I trust that means you've still got something like $2.5 million in that IRA. My next guess is that you put your IRA into riskier investments - and are probably still well ahead over the years.

"Just" also suggests you've got other resources and will be comfortable in retirement. Congrats.
 
2022-04-30 8:17:55 PM  
Retirement account balances have been steadily recovering in the year since COVID first emerged, even surpassing pre-pandemic levels.

Wow! That is amazing!

I mean, the S&P 500 in up 30% from its Feb 2020 peak, and you should have been buying more funds at the bottom and all the way up, so if your balance hasn't increased, then you are a farking moron who did something like sell it all at the bottom and kept it in cash all this time.
 
2022-05-01 7:21:14 AM  
Let's see what the first suggestion is...


several steps you'll need to follow.
A financial advisor can help you handle your 401(k) so that you maximize your investment returns.


of course that is #1
 
2022-05-01 5:20:55 PM  
That's one of the only benefits of working in the public education sector (at the college level).... Sure we're underpaid, and undervalued. But also sitting on 20 years worth of 60-70% of my salary, when I retire.
 
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