Did you change your portfolio? Trump was actually good for stocks sans Covid. Is your account actively managed? You must have been in mostly Energy based Funds.
Average 401k Balance by age
- Thread starter Chiyo
- Start date
Did you change your portfolio? Trump was actually good for stocks sans Covid. Is your account actively managed? You must have been in mostly Energy based Funds.
I was slightly ahead of the chart before I took out money for covid relief.
My 401k amount was at 8% but I bumped it up to 10% after seeing this.
I do 10% ESPP which I hadn't been contributing before when I was with Sprint but do contribute to for T-Mobile.
My 401k amount was at 8% but I bumped it up to 10% after seeing this.
I do 10% ESPP which I hadn't been contributing before when I was with Sprint but do contribute to for T-Mobile.
I’m going to be working the rest of my life.
Man why?
And the Average was 121k ok, so what now?Looking back, I wish I would have jumped in and started a 401K about 5 years earlier than I did, but I didn't until I was like 32, and I was making shit money at a university at the time (so actually it was a 403B, but close enough...) so I didn't contribute a whole lot to it out of my paychecks... but I did at least start. Around the same time I started a Roth IRA with a few thousand dollars.
Fast forward several years, and I worked for a company where I got an actual 401K, and then they got sold to another company who never gave us access to one, so my 403B, Roth and 401k were sitting there growing a little, but I wasn't contributing. Then we got sold again to my current company and I signed up right away, so now I have a 403B, two 401Ks and that Roth. I need to roll the 403B, and the first 401K into my current 401k... but even then it will be far below where it should be. I think like 150K.... but I did just up my contribution, so over the next 15 years or so, it should get to a decent level, although still not as high as I would like it by retirement age.
....but... on the flip side, my dad died at 59 and my brother died at 42, before either could take advantage of their shit. We as survivors did get it, and that was something I'm sure they'd be happy about. I got no wife/kids though. Sooooo, I'm looking at it like this.... if I don't plan for retirement, I'm gonna live to be 127 as a pauper
.
....but being that I am at least trying to build some funds, I'm gonna croak when I'm 61 and never get to touch that shit.
Fast forward several years, and I worked for a company where I got an actual 401K, and then they got sold to another company who never gave us access to one, so my 403B, Roth and 401k were sitting there growing a little, but I wasn't contributing. Then we got sold again to my current company and I signed up right away, so now I have a 403B, two 401Ks and that Roth. I need to roll the 403B, and the first 401K into my current 401k... but even then it will be far below where it should be. I think like 150K.... but I did just up my contribution, so over the next 15 years or so, it should get to a decent level, although still not as high as I would like it by retirement age.
....but... on the flip side, my dad died at 59 and my brother died at 42, before either could take advantage of their shit. We as survivors did get it, and that was something I'm sure they'd be happy about. I got no wife/kids though. Sooooo, I'm looking at it like this.... if I don't plan for retirement, I'm gonna live to be 127 as a pauper
. ....but being that I am at least trying to build some funds, I'm gonna croak when I'm 61 and never get to touch that shit.
I don't feel so bad now. I'm about average
but I thought I was waaay lower than the
average 401k. I would have had a lot more
but in 2002 I had to cash in my 401k, (well
that's what I told myself back then) when
I got laid off at my old job.
but I thought I was waaay lower than the
average 401k. I would have had a lot more
but in 2002 I had to cash in my 401k, (well
that's what I told myself back then) when
I got laid off at my old job.
Fasho. I’m cool with it. You do have to put things perspective.
Gotdam thats some roller coaster shit.
you took out money on the strongest bull run ever just to kick it
man you guys are not serious about money
at least you have a plan/reason behind the way you are doing things. that's what really matters. And yeah, if you follow through on that, it can become another income source for you. smart IMO.
I'm way behind on both 401K and investments, but i am contributing to both. Seems like more brothers and sisters are making moves. it's very encouraging to see.
You can't just say blanket statements like that without knowing a man's life and circumstances.
Family you need to review what funds your 401K money sits in.
If you don't mind, share what funds you got money in. No need for dollar amounts just fund stock ticker names.
For example I got money in FXAIX, FSMAX and RGAGX.
he literally said just to kick it
not that he lost his job or had a medical emergency
but to have fun
Fam you can do it. Def stay in these type of threads, there are some really smart and encouraging brothers/sisters on here. If you employee is matching, max that out. Its free money. Reach out if I can help, Im not the smartest or wealthiest cat on here, but if I can help you already know....
At 38, I'm on track for a decent retirement. Trying to get my Brokerage to match my 401ks and IRAs totals though.
I concur with this. While I was putting money in my 401K in my 20's I wish I was investing in the market at that time too, but the major point I will agree with is getting a side hustle. That extra income helps out so much and will help you build a nice cushion to do things.
VTI
VOO
XLV and SCHB
That's in one account were I still have about $18K to invest. Going to pick up Real Estate, more tech and travel/hospitality in the coming days. When things open back up I should be set.
Late to the party. I hopped on the rental properties train once I get these props sorted all of them funding my retirement in addition to my side gig as a professor where my checks go straight to my IRA. 
I'll add try to get a side hustle where they contribute to your 401K also...That's a lick in itself...
Ill wait till I'm 57 then go on here to find a "get rich" thread (crypto, stocks , real estate in Mars) lol
This is a good ass thread.
appreciate it. and yes, my employer does matching. I am slowly building it up.
I started with both of those myself. Far as your future endeavors, i am targeting the same things myself. Real estate simply because it makes so much sense to do so, tech because i'm big on science /technology (I work in IT).
Please use this as a reliable way to rate your 401K performance.
First visit Morning Star and look up a fund you got money in---> https://www.morningstar.com
In this example I'm going to use Vanguard Total Stock Market Fund. (VTSAX)
https://www.morningstar.com/funds/xnas/vtsax/quote
Things to take note of:
1) Star Rating this is a measure of a funds risk-adjusted return. Obviously the higher the start rating, typically indicates better performance. Top star rating is a 5. Personally I make sure I pick funds that are a 4 or 5 and nothing less.
2) Expense Ratio (this funds expense ratio is 0.040% which is very low) You want a low expense ratio because the fund manager takes less. Higher the expense ratio the more of your money they get.
3) Growth of 10,000 this metric is used to gauge your funds performance over a 10 year period. Meaning, if you put $10,000 into this fund and let it sit for 10 years allowing dividends (money your money has made) to be reinvested. Per this chart 10 grand could balloon to some where around $38,000.
4) Portfolio this is a link just below the funds name at the top of the page. This will help you see what industries and companies this fund holds funds in. Spend some time here and see what the biggest shares are. This will also help you select others funds that don't have the same holdings, thus allowing you to diversify. Can't have too many funds that are all top heavy with Apple, Microsoft and Amazon, it's good to mix it up.
I'll stop here and let some of the other Family chime in. Using morningstar and these 4 options helped me to get my 401K investments into better producing and better performing funds. Keeping fee's low is a huge must because most companies won't tell you that majority of the funds in their portfolio are very fee heavy.
Growth of 10,000 is important because you need a decent general idea of this funds performance over time. If you put 10,000 in a fund and leave it for 10 years and that 10,000 only grows to 15,000 to 18,000 then you know that's not something that is going to help you build faster.
First visit Morning Star and look up a fund you got money in---> https://www.morningstar.com
In this example I'm going to use Vanguard Total Stock Market Fund. (VTSAX)
https://www.morningstar.com/funds/xnas/vtsax/quote
Things to take note of:
1) Star Rating this is a measure of a funds risk-adjusted return. Obviously the higher the start rating, typically indicates better performance. Top star rating is a 5. Personally I make sure I pick funds that are a 4 or 5 and nothing less.
2) Expense Ratio (this funds expense ratio is 0.040% which is very low) You want a low expense ratio because the fund manager takes less. Higher the expense ratio the more of your money they get.
3) Growth of 10,000 this metric is used to gauge your funds performance over a 10 year period. Meaning, if you put $10,000 into this fund and let it sit for 10 years allowing dividends (money your money has made) to be reinvested. Per this chart 10 grand could balloon to some where around $38,000.
4) Portfolio this is a link just below the funds name at the top of the page. This will help you see what industries and companies this fund holds funds in. Spend some time here and see what the biggest shares are. This will also help you select others funds that don't have the same holdings, thus allowing you to diversify. Can't have too many funds that are all top heavy with Apple, Microsoft and Amazon, it's good to mix it up.
I'll stop here and let some of the other Family chime in. Using morningstar and these 4 options helped me to get my 401K investments into better producing and better performing funds. Keeping fee's low is a huge must because most companies won't tell you that majority of the funds in their portfolio are very fee heavy.
Growth of 10,000 is important because you need a decent general idea of this funds performance over time. If you put 10,000 in a fund and leave it for 10 years and that 10,000 only grows to 15,000 to 18,000 then you know that's not something that is going to help you build faster.
posts like this are what makes BGOL worth the monthly fee. i'm bookmarking this one, and following every step of this advice. thanks for sharing.
Family I'm 48 my 401K is $376K and some change. I also got a ROTH IRA and three other fund accounts that are almost at $100k.
What I'm sharing works because I use it myself. If nothing else it will help you get an idea of how it this all works. That will help us all make better decisions and if nothing else, we'll know the right questions to ask when meetings with fund managers.
Sounds like paradise
it certainly helps. I already clicked thru to that link you provided and i'm in the process of educating myself further. Props on the 401K and roth accounts.
Thanks man! Have a question for you. What funds do you use to maximize your dividends? I’d like to build my portfolio to get a strong quarterly yield and a great monthly yield. Time frame is 15 years for Max. I’ve looked at some Dividend Aristocrats and some Dividend Kings. I’m in the building phase.
Good shit. I will drop it off later today
Trump was good while riding Obama's jock. Damn near every fund that is available to me performed terribly.
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