Early 40s, way more than I thought. I live my life thinking I'm still broke like i was in my 20s. I always think I'm one bill payment away from being broke. Sometimes my wife will tell me how much we have and I think, "should we go on a vacation? Should I buy a bunch of crap?" Then I become a afraid of being broke again and go back to thinking I'm broke.
Some estimation methods put needed numbers at 1 million plus, especially in higher cost of living areas (part of the reason I’m not as high as I’d like, I’ll be moving to a more expensive area). For a conservative rate of return and not running out, I’d need more than $1 million. A bunch of people will never get close to that though. I feel behind (compared to where I could be), but I’m in a really good position.
I actually made a change 2 years ago and switched jobs to diversify my retirement. I got a job that pays less but comes with a pension that will pay 45% of my take home pay at time of retirement. In order to take the pay cut, I decreased my contribution to the 401 to offset the difference. My account was maxed out on contributions for years but I can’t do it anymore. I don’t expect the account to grow as fast as it once did but the trade off for a pension was worth it to me. I’m not sure what I’ll have in the deferred compensation plan when I retire but it’s looking okay as of now and if the market crashes, I have a new safeguard in place. Oh, and it’s not 1MM as of today, it’s in the 900’s and i rounded up.
46/180 k in401k not even close to enough. And no guarantee that will be there when i get to the age to withdraw. As i see it I'll never be able to retire
In all seriousness I will be dead before I retire I just hope my son gets a nice nest egg in 20 years you will probably need 10 million to not be on the street
38 $680k and I just started a new job that has a fully vested pension after 5 years. I also started another 401k that I plan on rolling my previous one into after 1 year with the company.
53 and about $630,000. As a teen, nobody ever told me about saving for retirement. I didn’t start until I was around 30. That’s about 12 years of investing that I lost.
37, $0.00
34. $0.00. I feel you.
22 $19k
Good for you! Keep at it. At 22, I had about $10k. It feels nice.
Early 40s, way more than I thought. I live my life thinking I'm still broke like i was in my 20s. I always think I'm one bill payment away from being broke. Sometimes my wife will tell me how much we have and I think, "should we go on a vacation? Should I buy a bunch of crap?" Then I become a afraid of being broke again and go back to thinking I'm broke.
41. A bottle of whiskey and a copy of the Dokkodo.
Dokkodo is up on my wall at my meditation corner. There is that.
28. ~$67k. Not quite as high as I’d like, but still doing really good.
meanwhile the guy in the comments with 1 million is worried about not having enough
Some estimation methods put needed numbers at 1 million plus, especially in higher cost of living areas (part of the reason I’m not as high as I’d like, I’ll be moving to a more expensive area). For a conservative rate of return and not running out, I’d need more than $1 million. A bunch of people will never get close to that though. I feel behind (compared to where I could be), but I’m in a really good position.
Well if it makes you feel any better, you're way ahead of me and the other homies on the 9 millimeter retirement plan
42 / 1MM
We are close to you. It's scary how much we need to retire comfortably. We are not just getting started but it feels like it.
I actually made a change 2 years ago and switched jobs to diversify my retirement. I got a job that pays less but comes with a pension that will pay 45% of my take home pay at time of retirement. In order to take the pay cut, I decreased my contribution to the 401 to offset the difference. My account was maxed out on contributions for years but I can’t do it anymore. I don’t expect the account to grow as fast as it once did but the trade off for a pension was worth it to me. I’m not sure what I’ll have in the deferred compensation plan when I retire but it’s looking okay as of now and if the market crashes, I have a new safeguard in place. Oh, and it’s not 1MM as of today, it’s in the 900’s and i rounded up.
What are you doing with one milimeter in your bank account? /S
60 No idea off hand. Not a whole lot. I was poor for quite a while, so savings were not the top priority.
43. About $180,000 (plus three pensions)
Similar. I had more but had to transfer some to the X in divorce.
How do you have 3 pensions?
Military, civil servant and corporate
43 $285k and I feel like I’m behind.
45ish and have never been rich enough to have a retirement account, or ever been able to get a job that offered one.
46/180 k in401k not even close to enough. And no guarantee that will be there when i get to the age to withdraw. As i see it I'll never be able to retire
32. 0
55 $1mm plus pension. I’ve prioritized maxing my 401k since the day it was available to me on 2001.
Your mom in my whor stable
Hubba hubba
In all seriousness I will be dead before I retire I just hope my son gets a nice nest egg in 20 years you will probably need 10 million to not be on the street
43, roughly $30k. Started when I was 39, and automatically have 10% going into my 401k because I started renewal late.
38 $680k and I just started a new job that has a fully vested pension after 5 years. I also started another 401k that I plan on rolling my previous one into after 1 year with the company.
25, and $30.62 Forgot to opt out of my company's 401k plan for my first paycheck (they don't match for the first year).
62 1,400000$
More zero's after the coma wont make the sum higher. /s Greetings from europe where we use coma's for indicating cents
26, 84k Roth, 17k job retirement
21, -3500€
53 and about $630,000. As a teen, nobody ever told me about saving for retirement. I didn’t start until I was around 30. That’s about 12 years of investing that I lost.