34 years old and $100K in the 401K am I on track

Well you had to post on letsrun.com asking people whether they think you are doing well....perhaps financially your doing better than others but I'd say in a lot of other areas you have a long way to go...

You are doing just fine. Keep investing into your 401K and you'll be able to retire at age 50 with over 1 million in your 401k.

By the way... ever hear of a calculator? I used a cheap wall mart one... probably $5 to answer your question.

Oh and you are welcome for the answer to the question you already knew the answer too. So I guess you were looking for a stroke to your ego... well here is one for you dude... I'm only 29 and WAY better off than you!

well, you're doing pretty poorly in the communication department. we have no idea what it is that you want to be on track for, let alone about ten other pieces of information that are pretty important for determining whether you'd be "on track" for whatever.

99K wrote:

No kids yet.. other savings are minimal.. $10K ish.. just bought a house..

How am i doing?

Yes. You are fine. Keep putting 10-15% minimum into your 401k (depending on how much you make) and you'll have easily more than $3 million when you are ready to retire. If you don't add to it again at all, that $100,000 will turn into $1.26 million by the time you are 67 (at 8% annual return).

Definitely keep adding to it.

how much do you give to charities, yearly?

i hope you live somewhere cheap and sh!tty cos you are gonna be in a trailer if you don't

get over yourself wrote:

how much do you give to charities, yearly?

he's handing over thousands to the government to support old people and the disabled. and that's before taxes. i'm glad he's being proactive; one less person the rest of us will have to support in their old age.

get off your high horse. it didn't suit you in your deleted post and it doesn't suit you now.

99K wrote:

No kids yet.. other savings are minimal.. $10K ish.. just bought a house..

How am i doing?

I'm 36 and I have $230k in mine. And I have almost that much in a non-retirement account (who wants to wait until they're 60 to retire?)

I have one child and am married but my wife hasn't worked since we were married 2 years ago. She's about to start a job for $100k/yr. Now I can really sock it away...

Ok, the point of this is to show you that, just like running, just when you think you are doing well, somebody comes along who can lap you. I don't think I am anything special, surely there is someone on this board reading my story and laughing at my poverty. Again like running, what's important is whether you are meeting YOUR goals, and if not, to find out why and what you can do about it.

Just like most of the runners on this board, you can take solace in the fact that you are better than 99% of the people out there who are probably $50k in the hole at your age.

you, my friend are another greedy-grabber, no doubt; only interested in you, you and you. May God have mercy on your soul. (ever heard of Ebenezer Scrooge?)

chuck d wrote:

[quote]get over yourself wrote:

how much do you give to charities, yearly?

he's handing over thousands to the government to support old people and the disabled. and that's before taxes. i'm glad he's being proactive; one less person the rest of us will have to support in their old age.

no, you apparently think people who make money have a duty to hand money over to others. look at yourself. posting vitriol against others who - as i pointed out already - you know nothing about. i'm sure your god loves you very much.

why does someone have to give money to charity? i don't for a very simple reason - i don't see the benefit. what i do instead is volunteer my time to those less fortunate. it's far more rewarding - both for me and my less fortunate clients - than just throwing money at a problem and forgeting about it while making yourself feel good for "helping" others, all while not getting your hands dirty.

so, yes, get off your high horse. you're pathetic.

repeat your lifestyle mantra....."greed is good"....greed is good.....greed is good.

so what, your times still suck.

[quote]chuck d wrote:

why does someone have to give money to charity? i don't for a very simple reason - i don't see the benefit. (of course you don't). what i do instead is volunteer my time at the Country Club. it's far more rewarding - both for me and my fortunate clients -

I doubt you were worth half a squat as a distance runner with your attitude.

ok why does a country club need volunteers? ur getting screwed.

Are you living your dream?

If not, then a house and money can become a burden.

Making alot of money is an empty dream.

It doesn't feed your soul.

Saving money isn't a contest brother. Either you invest enough to have a nice retirement and possibly earlier than age 60 or you don't. Simple as that. Everyone's wanted lifestyle determines how much is needed. The dude with 100K (plus $10K in another account) is doing just fine, as are you. Both of you are far enough away from retirement that you'll be able to have $3 million or more by age 60 (less if you retire before that). That should be more than enough to live well on as $3 million brings $150,000 if you just take a 5% return from it each year. Hit 62 and you can start taking Social Security too. If you can't live on that, even 24 years from now, then you've got problems -- especially if the house is paid for and you don't have kids living at home anymore.

Even though investing is not a contest, I'm doing better than you both. :)

Flagpole Willy wrote: Saving money isn't a contest brother.

Aw man, are you telling us that he who dies with the most toys doesn't win? Should I call off my planned heist of FAO Schwarz and tear up the suicide note?

[quote]Flagpole Willy wrote:

[

I'm 36 and I have $230k in mine. And I have almost that much in a non-retirement account (who wants to wait until they're 60 to retire?)

Saving money isn't a contest brother. Either you invest enough to have a nice retirement and possibly earlier than age 60 or you don't.

stats show that people are working longer, not retiring early. Nothing to do with money or lack of it, (for most of them), people just don't want to retire and are working into their late 60s and 70s. My grandfather didn't retire until he was 75. My dad died at 69 and still working, by choice. When you get to 60, I have a feeling that you might feel differently. Time will tell; but, like you said, it's nice to be in a postion to not HAVE to work unless you choose to.

Your post was thoughtful, purposeful, yet respectful to those who might be coaches, teachers, etc., making 30k a year; unlike some of these "I'm better than you" posters

My post was not meant to point out moneymaking as a competition, just that when one looks at it like a competition one will find that (like running) there is always someone who can kick your ass.

I am planning to retire as early as possible. Not so I can sit on my ass and do nothing, but so I can devote my time to whatever is most interesting at the moment. Maybe I will get heavily involved in running (coaching it or organizing events or whatever). Maybe I will start a charity, or go volunteer time in a poor country trying to help out. Maybe I will start a business. If you've got the money to live comfortably without relying on a paycheck, then you are free to do what you like with yourself. Like the old commercial used to say: "One day you realize you are working for a dead guy (portrait of the company founder in the background)". I don't want to work in a rubber dogshit factory until I'm 70, someday I want to own the rubber dogshit factory, get it?