Comments on: How Much is Your 401k Worth?

By: FinancialGuruOnline.com » Carnival of Financial Planning - June 21 2008 Edition

Tue, 15 Jul 2008 05:14:43 +0000

[...] presents How Much is Your 401k Worth? posted at Millionaire
Money Habits, saying, “The editor of Money Magazine recently wrote
[...]

By: Carnival of Financial Planning - June 21 2008 Edition [The Skilled Investor's PERSONAL FINANCE BLOG] | Financial Resource

Sat, 28 Jun 2008 15:04:16 +0000

[...] presents How Much is Your 401k Worth? posted at Millionaire Money Habits, saying, “The editor of Money Magazine recently wrote [...]

By: Festival of Stocks, June 23, 2008 Edition! : Circle of Competence

Festival of Stocks, June 23, 2008 Edition! : Circle of Competence — Mon, 23 Jun 2008 23:08:45 +0000

[...] presents How Much is Your 401k Worth? posted at Millionaire Money Habits, saying, “The editor of Money Magazine recently wrote [...]

By: Roy

Roy — Fri, 13 Jun 2008 00:02:16 +0000

When I retired, I rolled my 401K into my IRA (and moved the company stock out of the 401K via a NUA approach). After 3 years, the IRA balance is now $325K. I have not need those assets to live on so far and plan to either keep it invested until age 70 1/2 MDR kicks in or perhaps I will use the tax rule if it survives to roll the IRA into a Roth and let it just roll on.

I would like to see other comments about managing an IRA/Roth post age 65.

By: Ryan

Ryan — Thu, 12 Jun 2008 19:46:51 +0000

Thanks for sharing that link, Lazy Man. That’s a really interesting article. I think I need to bookmark that one.

Hazzard, that’s a great goal! I have a printout on hanging my cork board here that I found on thefool.com. It shows that just by maxing out your 401k you can expect to be a millionaire in about 17 years. If you continue to make those same $15.5k contributions you’ll have $2 million in just another 5 years! Kind of shows why it’s so easy for the rich to get richer, huh?

I believe the reason the average balance is so low is because of that 30% that don’t contribute, so the fact that you have already started puts you leaps and bounds ahead of a lot of people. What’s great about a 401k (or any investment plan) is that it doesn’t take much. If you start early, those little contributions quickly add up to big $$. So even if you’re balance is low, that’s nothing to be discouraged about. Just keep making those contributions and time will take care of the rest.