I am behind, took me a while to graduate and start working. I have just shy of $90K right now, I am investing conservatively. I am 39 and I am afraid that I'll never be able to retire. Things are expensive nowadays and you litereally need several millions to retire comfortably. I think I'll work until by body permits so.
42 replies (most recent on top)
42 and had about $500k back in January. Getting closer to 400k now
I am 45 and have about 510k in my various 401k/rollover IRAs. I havent updated my quicken in a few weeks so assume with the markets taking a dump that it is now lower, but that’s the breaks as they say,. I am married and my wife also has some on top of that thankfully. And then there are funds elsewhere including 529s and HSAs, and then various post tax accounts. At 39, I would not personally have my funds in a conservative allocation, IMHO, it should be aggressive, unless you are planning to retire near term which doesn’t sound like it.
FWIW, if you aren’t already, my recommendation is to at least invest the 401k up to company match, at a minimum. If you can afford to max, even better. Also, if you can afford to do max HSA and not use it for medical expenses along the way, it is the 2nd investment conduit I would recommend for retirement (2nd to 401k amount up to company match). That’s because it is a tax break up front and grows tax free and can be withdrawn AT ANY POINT for qualified medical expenses. Meaning, we pay out of pocket along the way and save receipts since HSA started. At any point that we want we can withdraw TAX FREE up to the max of account of course, any medical expenses incurred along the way.