Current Events > If you simply maxed out your 401k and did nothing else, u'd retire a millionaire

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TheMaddenDude 02/26/24 10:07:38 AM #1:	If you are mid 30s like me (34), and you maxed your 401k, you could retire at 65 with like 5 million and thats with like minimal match, also that assumes the max doesn't increase over time, and also assumes a 10% growth rate. last month I actually took all my 401k money out of its default targeted fund and put it all in the S&P. If you max your roth on top of your 401k, you'd retire with another ~1.5 million. Thats nearly 7 million for doing no additional investing other than maxing 401 contributions and putting aside $500 for roth IRA. Even if you do half of the max 401k and still do the $500/mo for roth IRA, you're retiring with like 5 million. Whats stopping you?? <cite>TheMaddenDude posted [p:979050326] in If you sim... [t:80706279]...</cite> <quote>If you are mid 30s like me (34), and you maxed your 401k, you could retire at 65 with like 5 million and thats with like minimal match, also that assumes the max doesn't increase over time, and also assumes a 10% growth rate.last month I actually took all my 401k money out of its default targeted fund and put it all in the S&P. If you max your roth on top of your 401k, you'd retire with another ~1.5 million. Thats nearly 7 million for doing no additional investing other than maxing 401 contributions and putting aside $500 for roth IRA.Even if you do half of the max 401k and still do the $500/mo for roth IRA, you're retiring with like 5 million.Whats stopping you??</quote> ... Copied to Clipboard!
supermichael11 02/26/24 10:10:07 AM #2:	Lack of qualifications and degree. --- http://www.neoseeker.com/forums/88/ dragon ball forum https://gamefaqs.gamespot.com /boards/1514-dragon-ball-general-community-moderated (no space). <cite>supermichael11 posted [p:979050362] in If you sim... [t:80706279]...</cite> <quote>Lack of qualifications and degree. </quote> ... Copied to Clipboard!
Irony 02/26/24 10:11:02 AM #3:	https://youtu.be/IadMQFuxuZ8?si=bz4iFL9RFso9kCVE --- See profile pic <cite>Irony posted [p:979050378] in If you sim... [t:80706279]...</cite> <quote>https://youtu.be/IadMQFuxuZ8?si=bz4iFL9RFso9kCVE </quote> ... Copied to Clipboard!
Accolon 02/26/24 10:11:25 AM #4:	But then how world I pay for food and rent and utilities and insurance and bills --- http://i.imgur.com/XAMp8.jpg <cite>Accolon posted [p:979050384] in If you sim... [t:80706279]...</cite> <quote>But then how world I pay for food and rent and utilities and insurance and bills </quote> ... Copied to Clipboard!
bnui_ransder 02/26/24 10:12:02 AM #5:	Not making enough money to do that after bills is what's stopping me --- http://bnuiransder.tumblr.com/ So much A R T <cite>bnui_ransder posted [p:979050397] in If you sim... [t:80706279]...</cite> <quote>Not making enough money to do that after bills is what's stopping me </quote> ... Copied to Clipboard!
supermichael11 02/26/24 10:12:18 AM #6:	Plus working with minimum wage. --- http://www.neoseeker.com/forums/88/ dragon ball forum https://gamefaqs.gamespot.com /boards/1514-dragon-ball-general-community-moderated (no space). <cite>supermichael11 posted [p:979050403] in If you sim... [t:80706279]...</cite> <quote>Plus working with minimum wage. </quote> ... Copied to Clipboard!
hereforemnant 02/26/24 10:13:11 AM #7:	bnui_ransder posted... Not making enough money to do that after bills is what's stopping me --- 3DS Friend Code: FC: 0318-7199-1150 <cite>hereforemnant posted [p:979050418] in If you sim... [t:80706279]...</cite> <quote>bnui_ransder posted... </cite><quote>Not making enough money to do that after bills is what's stopping me</quote> </quote> ... Copied to Clipboard!
CARRRNE_ASADA 02/26/24 10:13:29 AM #8:	If you can max out your 401k then money isnt a problem for you. --- SEXY SEXY! <cite>CARRRNE_ASADA posted [p:979050423] in If you sim... [t:80706279]...</cite> <quote>If you can max out your 401k then money isnt a problem for you. </quote> ... Copied to Clipboard!
Dat_Cracka_Jax 02/26/24 10:14:15 AM #9:	Dude, most people cannot max an IRA at 6.5k. you think they could do the 401k max of 17k? --- http://img826.imageshack.us/img826/8131/flame201010170949481638.jpg http://img705.imageshack.us/img705/5517/cateyes.gif Rams: 7-9 <cite>Dat_Cracka_Jax posted [p:979050433] in If you sim... [t:80706279]...</cite> <quote>Dude, most people cannot max an IRA at 6.5k. you think they could do the 401k max of 17k? </quote> ... Copied to Clipboard!
DarthAragorn 02/26/24 10:16:33 AM #10:	Maxing your 401k is minimum $22.5k a year + a yearly increase each year so no shit if you can afford to do that you'll be set for retirement Here's a protip, the vast majority of people cannot afford to do that --- Asus ROG Strix Z790-E \| Core i9-13900k \| 64GB DDR5-6000 \| RTX 4090 24GB Dell AW3423DW QD-OLED - 1440p Ultrawide, 175hz, GSync <cite>DarthAragorn posted [p:979050458] in If you sim... [t:80706279]...</cite> <quote>Maxing your 401k is minimum $22.5k a year + a yearly increase each year so no shit if you can afford to do that you'll be set for retirementHere's a protip, the vast majority of people cannot afford to do that </quote> ... Copied to Clipboard!
TheMaddenDude 02/26/24 10:20:35 AM #11:	Max 401k is 23k, and remember thats pre-tax. But like I said, even if you do half of that and don't do any roth contributions, you'll still end up with like 3.5 mil at 65. <cite>TheMaddenDude posted [p:979050532] in If you sim... [t:80706279]...</cite> <quote>Max 401k is 23k, and remember thats pre-tax. But like I said, even if you do half of that and don't do any roth contributions, you'll still end up with like 3.5 mil at 65. </quote> ... Copied to Clipboard!
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BunkerBoy 02/26/24 10:24:49 AM #15:	[LFAQs-redacted-quote] Don't forget larping as a fake doctor <cite>BunkerBoy posted [p:979050607] in If you sim... [t:80706279]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> Don't forget larping as a fake doctor </quote> ... Copied to Clipboard!
UnsteadyOwl 02/26/24 10:24:49 AM #14:	Obviously the best place to get financial advice is from a random message board user on a video game site. --- "It is possible to commit no mistakes and still lose. That is not a weakness. That is life." <cite>UnsteadyOwl posted [p:979050606] in If you sim... [t:80706279]...</cite> <quote>Obviously the best place to get financial advice is from a random message board user on a video game site. </quote> ... Copied to Clipboard!
TheMaddenDude 02/26/24 10:26:34 AM #16:	If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire. <cite>TheMaddenDude posted [p:979050651] in If you sim... [t:80706279]...</cite> <quote>If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire. </quote> ... Copied to Clipboard!
TheMaddenDude 02/26/24 10:28:48 AM #17:	[LFAQs-redacted-quote] 250 per month = 730k in 30 years at 10% growth. If you can scrape together an additional $100 per month, you'll exceed 1 mil. <cite>TheMaddenDude posted [p:979050676] in If you sim... [t:80706279]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> 250 per month = 730k in 30 years at 10% growth.If you can scrape together an additional $100 per month, you'll exceed 1 mil. </quote> ... Copied to Clipboard!
BunkerBoy 02/26/24 10:29:31 AM #18:	TheMaddenDude posted... If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire. Fake doctor has no idea what he's talking about confirmed <cite>BunkerBoy posted [p:979050688] in If you sim... [t:80706279]...</cite> <quote>TheMaddenDude posted... </cite><quote>If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire.</quote>Fake doctor has no idea what he's talking about confirmed </quote> ... Copied to Clipboard!
2Pacavelli 02/26/24 10:30:07 AM #19:	That's not true. You'd have to account for a high enough salary and no gaps in employment. Also how long you'll be working for and how long you plan on enjoying retirement <cite>2Pacavelli posted [p:979050705] in If you sim... [t:80706279]...</cite> <quote>That's not true.You'd have to account for a high enough salary and no gaps in employment. Also how long you'll be working for and how long you plan on enjoying retirement</quote> ... Copied to Clipboard!
TheMaddenDude 02/26/24 10:30:19 AM #20:	I'm just trying to emphasize the power of compounding while you guys are young. We all have the most important attribute in making money - time. Most of us are in our 30s. We have decades of compounding ahead of us. <cite>TheMaddenDude posted [p:979050708] in If you sim... [t:80706279]...</cite> <quote>I'm just trying to emphasize the power of compounding while you guys are young. We all have the most important attribute in making money - time. Most of us are in our 30s. We have decades of compounding ahead of us. </quote> ... Copied to Clipboard!
Torgo 02/26/24 10:31:09 AM #21:	Accolon posted... But then how world I pay for food and rent and utilities and insurance and bills Your trust fund, of course. Duh! --- Current signature not available. <cite>Torgo posted [p:979050723] in If you sim... [t:80706279]...</cite> <quote>Accolon posted... </cite><quote>But then how world I pay for food and rent and utilities and insurance and bills</quote>Your trust fund, of course. Duh! </quote> ... Copied to Clipboard!
DarthAragorn 02/26/24 10:31:43 AM #22:	No, the actual most important component in making money is money and most of us do not have that. --- Asus ROG Strix Z790-E \| Core i9-13900k \| 64GB DDR5-6000 \| RTX 4090 24GB Dell AW3423DW QD-OLED - 1440p Ultrawide, 175hz, GSync <cite>DarthAragorn posted [p:979050731] in If you sim... [t:80706279]...</cite> <quote>No, the actual most important component in making money is money and most of us do not have that. </quote> ... Copied to Clipboard!
TheMaddenDude 02/27/24 12:12:43 AM #23:	Bump <cite>TheMaddenDude posted [p:979064800] in If you sim... [t:80706279]...</cite> <quote>Bump</quote> ... Copied to Clipboard!
sabin017 02/27/24 12:21:14 AM #24:	Your 401k and IRAs can still be full of losers and you'd be at square 1. --- https://i.imgur.com/TWsfIIj.gif <cite>sabin017 posted [p:979064896] in If you sim... [t:80706279]...</cite> <quote>Your 401k and IRAs can still be full of losers and you'd be at square 1. </quote> ... Copied to Clipboard!
fire_bolt 02/27/24 12:21:23 AM #25:	TheMaddenDude posted... Max 401k is 23k, and remember thats pre-tax. Lmao, this is the first year I've made over 23k in my life. Check your fucking privledge my dude. Not everyone lives in California. Minimum wage here is still $7.25/hour. --- If it was about babies we'd have universal maternal care. There would be no charge no matter how complex the delivery. But its not about babies, is it? <cite>fire_bolt posted [p:979064899] in If you sim... [t:80706279]...</cite> <quote>TheMaddenDude posted...</cite><quote>Max 401k is 23k, and remember thats pre-tax. </quote>Lmao, this is the first year I've made over 23k in my life. Check your fucking privledge my dude. Not everyone lives in California. Minimum wage here is still $7.25/hour. </quote> ... Copied to Clipboard!
BunkerBoy 02/27/24 12:23:05 AM #26:	fire_bolt posted... Lmao, this is the first year I've made over 23k in my life. Check your fucking privledge my dude. TC pretends to be a doctor on a video game message board. I doubt he's doing much better than you, if at all <cite>BunkerBoy posted [p:979064920] in If you sim... [t:80706279]...</cite> <quote>fire_bolt posted... </cite><quote>Lmao, this is the first year I've made over 23k in my life. Check your fucking privledge my dude.</quote>TC pretends to be a doctor on a video game message board. I doubt he's doing much better than you, if at all </quote> ... Copied to Clipboard!
Jaguar34 02/27/24 12:30:39 AM #27:	UnsteadyOwl posted... Obviously the best place to get financial advice is from a random message board user on a video game site. It definitely was the best for how to mod video games and how do I find AI chat bots TC doesn't appear to be wrong, especially with the increase <cite>Jaguar34 posted [p:979065008] in If you sim... [t:80706279]...</cite> <quote>UnsteadyOwl posted... </cite><quote>Obviously the best place to get financial advice is from a random message board user on a video game site.</quote>It definitely was the best for how to mod video games and how do I find AI chat botsTC doesn't appear to be wrong, especially with the increase</quote> ... Copied to Clipboard!
sfcalimari 02/27/24 12:49:36 AM #28:	TheMaddenDude posted... If you live in california for example, minimum wage will get you like 65k per year. LOL --- "Tether even a roasted chicken." - Yamamoto Tsunetomo <cite>sfcalimari posted [p:979065219] in If you sim... [t:80706279]...</cite> <quote>TheMaddenDude posted... </cite><quote>If you live in california for example, minimum wage will get you like 65k per year.</quote>LOL </quote> ... Copied to Clipboard!
NoxObscuras 02/27/24 1:00:57 AM #29:	TheMaddenDude posted... If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire. 65k? Your numbers are way off. That's $30 an hour. Minimum wage right now is $16 and in April it goes up to $20 for fast food workers. At $20, they'd be looking at $2700-2800 take-home per month. I don't think many at that point could afford to put 30% of their income into savings. --- Steam/Xbox/PSN = NoxObscuras Z490 \| i9-10900K \| EVGA 3080 FTW3 Ultra \| 32GB DDR4 3600 \| 4TB SSD <cite>NoxObscuras posted [p:979065319] in If you sim... [t:80706279]...</cite> <quote>TheMaddenDude posted... </cite><quote>If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire.</quote>65k? Your numbers are way off. That's $30 an hour. Minimum wage right now is $16 and in April it goes up to $20 for fast food workers. At $20, they'd be looking at $2700-2800 take-home per month. I don't think many at that point could afford to put 30% of their income into savings. </quote> ... Copied to Clipboard!
Arcanine2009 02/27/24 1:11:58 AM #30:	I really need to consolidate all my 401ks together. Thanks for reminding me. --- Less is more. Everything you want, isn't everything you need. <cite>Arcanine2009 posted [p:979065430] in If you sim... [t:80706279]...</cite> <quote>I really need to consolidate all my 401ks together. Thanks for reminding me. </quote> ... Copied to Clipboard!
LeoRavus 02/27/24 1:20:55 AM #31:	I've known people who do max then complain they're broke. I'd rather have enough to do extra stuff before I'm too old or dead before before cash out. --- This is where cool people write stuff. <cite>LeoRavus posted [p:979065516] in If you sim... [t:80706279]...</cite> <quote>I've known people who do max then complain they're broke. I'd rather have enough to do extra stuff before I'm too old or dead before before cash out. </quote> ... Copied to Clipboard!
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Current Events > If you simply maxed out your 401k and did nothing else, u'd retire a millionaire (+) Yeah! (+)

Current Events > If you simply maxed out your 401k and did nothing else, u'd retire a millionaire