Average 401k Balance by age
- Thread starter Chiyo
- Start date
True but my goal of retiring at 55 is all fucked. Cacs and coons ain't shit.You are doing better than most still. The saddest shit is that We have people 60+ with literally nothing saved at all. Also, never let these cacs and coons forget that they cosigned bush privatizing social security right before the entire economy collapsed.
Talk that statistics, my dude!
Why would the mode be better for a data set like this? I assumed the median would be more informative but let me know. I like to know why I am wrong on things...
Shit was sweet while he was riding Obama's economy. When his policies especially his covid policies hit, the only people that profited were the ultra rich.
Seriously bro you are doing really well. I dont know your rate of return but let's say it is 10% per year, you money will double in 7.2 years.
Keep maxing out the 401k if you can. It is $19,500 per year now.
If you married and your wife is working even better. Have her max her's out too.
Then do the Roth IRA max of 6k per person.
You will be shocked how the money will just double like boom!
Keep maxing out the 401k if you can. It is $19,500 per year now.
If you married and your wife is working even better. Have her max her's out too.
Then do the Roth IRA max of 6k per person.
You will be shocked how the money will just double like boom!
Why would the mode be better for a data set like this? I assumed the median would be more informative but let me know. I like to know why I am wrong on things...
Because the of outliers. Outliers fuck up the means and the medians. The mode gives you a better indicator of the general population.
However, it is unlikely there would be a solid mode unless you rounding numbers up.
Still, mean, median, and mode have their shortcomings.
You are all fucked up and ignorant. Bush 2 housing bubble and Trump pandemic was disastrous for the economy, especially so for retirement plans
No. I am not saying you're wrong.
If you want to look at the median that is interesting to see.
However, I would like to see where it stands with the people contributing the most per their age group.
It is like seeing how many people got A's in the class. I could wanna know how many people got C's.
I wanna compare myself with the best of the best.
If you want to look at the median that is interesting to see.
However, I would like to see where it stands with the people contributing the most per their age group.
It is like seeing how many people got A's in the class. I could wanna know how many people got C's.
I wanna compare myself with the best of the best.
Why would the mode be better for a data set like this? I assumed the median would be more informative but let me know. I like to know why I am wrong on things...
I was on track to retire in 5 years.
I feel you bro. You definitely worked hard and deserve it, if this is the case.
In 5 years it is gonna be sweet but based on me being generic and not knowing the full story, 7 years is where you gonna be in the sweet spot.
In 5 years it is gonna be sweet but based on me being generic and not knowing the full story, 7 years is where you gonna be in the sweet spot.
I'm technically in the right bracket according this this, but once I hit 40 this year, I'm looking weak as shit.
THis is pretty accurate as it relates to me
Cotdam I hate that mother fuckaI am still baffled when people talk about the strength of the "trump" economy...
I hope I can get a golden parachute and come back and contract when I feel like it while keeping my teaching gig.
Numbers look lowhttps://www.cnbc.com/2021/02/24/how-much-americans-have-saved-in-their-401k-by-age.html
So many folks will simply not be able to retire.
Sounds about right
Thats backswards. My shit did 30% last yr and 20 something the yr before
S&p did 18 %last yr
You must have some ass investments
Nah. There are cats that I know personally that will have to work past 70 because of Trump.
he looks like one of the motherfuckers that gets robbed alot lol
It just depends how everything is allocated. Someone closer to actual retirement isn't going to have the same % in equities that someone in their 30s/40s will have.
I don't know if I want to retire, my 401k is low right now also. I have met too many people over the years that could retire but feel they need something to do, some kind of money making purpose. One guy bought a Pepperridge Farm route to deliver to stores, does that in the morning plays golf rest of the day. When he doesn't feel like working hires people to do the work for that day.
I went the route of starting my own business(Cleaning company), hope to build it up to where I can be less physically active in it when I get older but keep that money rolling in. I make about 32k a year right now only working 15 hours a week. One of my best friends doing one of my accounts that 3 times a week that is too far for me to drive that much to do it.
I also work part time as a vendor get about 13 to 15 hours doing that, looking for an easy full time M-F office gig if I could get one, b/c 90% of the time I do nothing in the morning related to my cleaning business might as well make money during that time. I plan to still contribute money to my 401k but I look at this cleaning thing as my retire plan need to stop being lazy and build more on it.
I went the route of starting my own business(Cleaning company), hope to build it up to where I can be less physically active in it when I get older but keep that money rolling in. I make about 32k a year right now only working 15 hours a week. One of my best friends doing one of my accounts that 3 times a week that is too far for me to drive that much to do it.
I also work part time as a vendor get about 13 to 15 hours doing that, looking for an easy full time M-F office gig if I could get one, b/c 90% of the time I do nothing in the morning related to my cleaning business might as well make money during that time. I plan to still contribute money to my 401k but I look at this cleaning thing as my retire plan need to stop being lazy and build more on it.
Thought i said that
True, less aggressive.
Damn shame that's what it has to come down to for some people after funding this bitch with taxes for all their working lives.
Yeah FATCA is some bullshit. I was actually working with the company that created the system for the IRS.
I see how shaky things are getting and realize there wouldn't be any real benefit of staying if it's going to be expensive and health care is going to be some bullshit. I'm much rather take my talents elsewhere, taxes be damned.
There isn't anything "right" or "wrong" about this information bro. This is just reporting.
What does the average do for you?
Don't you want to be in the millions in all brackets?
What does the average do for you?
Don't you want to be in the millions in all brackets?
Don't worry man. Just have a plan. A lot of people will too. Because the averages are so low... think about all the people who have ZERO!!!
Im thankful. Ill have a path to retiring in 5 years or less if biz stays stead and market does least 10%..... By 50 I can be good.
What I I did was just learned the basics of the market and stay disciplined. I had mentioned a couple of stocks in the investment threads year and change ago that panned out....
Get a side hustle.
If you are under 30 brothers, bust your ass and put ANY extra money in the market into GOOD tech Etfs and just leave it. 20 years later you will be like what 401k you sitting on a million plus. I mean you driving Uber get $500 throw it in. Hit the numbers throw that $300 in. Refi your car and get an extra $35 a month, throw it in. We are not promised so still enjoy life, but if you stick around, aint nothing worse then running into my old school crew and cats know they will work until they die and possibly have to depend on the govt to just eat.
My plan is to downsize the crib, and just travel from beach to beach, island to island as long as the Creator allows me....
DISCPLINE.....
I look back at the amount of bread I spent on Escalade, Infinity, Henny, weeds, chicks.... lol....
What I I did was just learned the basics of the market and stay disciplined. I had mentioned a couple of stocks in the investment threads year and change ago that panned out....
Get a side hustle.
If you are under 30 brothers, bust your ass and put ANY extra money in the market into GOOD tech Etfs and just leave it. 20 years later you will be like what 401k you sitting on a million plus. I mean you driving Uber get $500 throw it in. Hit the numbers throw that $300 in. Refi your car and get an extra $35 a month, throw it in. We are not promised so still enjoy life, but if you stick around, aint nothing worse then running into my old school crew and cats know they will work until they die and possibly have to depend on the govt to just eat.
My plan is to downsize the crib, and just travel from beach to beach, island to island as long as the Creator allows me....
DISCPLINE.....
I look back at the amount of bread I spent on Escalade, Infinity, Henny, weeds, chicks.... lol....
A breakdown per income bracket would be better
I reduced my 401k contribution down to company match and tossing the residual I was contributing into a Roth IRA. should have done this from the start so I can sit on a nice tax free fund upon retirement age and use it freely without penalty.
I reduced my 401k contribution down to company match and tossing the residual I was contributing into a Roth IRA. should have done this from the start so I can sit on a nice tax free fund upon retirement age and use it freely without penalty.
good post. got me thinking. I want a bigger house, but maybe i'm better off not getting it, and throw some more $$$ into investments instead. Hmmm...
I wont front I did it kinda backwards. I actually close on a house on Thursday probably too big for me now, but moms is elderly and my son will be a teenager next year... No wife etc... But while Im still youthful and have my investments/income in order I was like let me take advantage of a 2.5% interest rate Im getting. I figured if my son is out in 6-7 years I can keep another year or 2 or rent it out and just kinda live off the income in a rental somewhere and just bounce around with a small suitcase.
I dont think there is a one size fits all but its like having to worry about the govt to take care of my Black ass is FRIGHTENING. So right now, I just have to worry about staying healthy and freak accidents lol....
If you can swing it while rates down can rock otherwise, make sure you good my brother.
if I could lop that bastards head off I would. Even these degenerate trailer park white Republicans don’t understand how he set this country back.
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