Don't miss what's happening in Kingwood
People on Kingwood.com are the first to know.
Go to top of page
Close
 
Close
Back
* CONTEST TODAY: 24 Hours Only - Win a $25 Gift Card from Flowers of Kingwood!  Ends in 11 hrs Read more »

401K question

401K question

12»
« Back
This discussion has been locked.
Message Menu
by: N+T Active Indicator LED Icon 14 OP 
~ 11 years ago   May 24, '12 11:08am  
at age 41 what should a person's 401K balance be?  I know it is a vage question, just want people's opinions. 4951
* Reactions disabled on political threads.
What are your thoughts? Log in or sign up to comment
Replies:
Message Menu
elguapo Active Indicator LED Icon 15
~ 11 years ago   May 24, '12 11:10am  
OK, I wonder how many pages this will fill until we get to the 401,000 questions asked mark? 4951
* Reactions disabled on political threads.
Message Menu
mm4731 Active Indicator LED Icon 13
~ 11 years ago   May 24, '12 11:14am  
[ Removed By Request. ] 4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 11 years ago   May 24, '12 11:16am  
$300,000 to $500,000
 
@mm4731:   Sounds about right.
4951
* Reactions disabled on political threads.
Message Menu
alprin25 Active Indicator LED Icon  New Member
~ 11 years ago   May 27, '12 4:17pm  
Way too many variables involved to answer this with any certainity. This is more of a keeping up with the Jones type question. Invest what you can afford and dont worry aboout it. 4951
* Reactions disabled on political threads.
Message Menu
TexINS Active Indicator LED Icon 12
~ 11 years ago   May 28, '12 3:17pm  
300k-500k is about  right. IT is not a keeping up with the Jones' question. It's a "how am I going to take of myself when I am old and want to retire" question or quality of life when you stop working.Put nothing into an IRA and 401k and you will be telling people "thanks for shopping at Walmart".There are numerous calculators on the internet to tell you how much you need to save. 4951
* Reactions disabled on political threads.
Message Menu
mm4731 Active Indicator LED Icon 13
~ 11 years ago   May 28, '12 3:27pm  
[ Removed By Request. ] 4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 11 years ago   May 28, '12 4:01pm  
A good friend had a bad divorce and essentially gave his wife most of his 401K.  He now realizes that he will be working the rest of his life.My sister never contributed anything into her 401k.  She liked working and took it for granted that she would be working all her life anyway.  Her kidneys are failing and she got laid off from her job.  Now, she wishes she had put money away.Bottom line:  put as much away as you can and don't count on anything else (particularly the government). 4951
* Reactions disabled on political threads.
Message Menu
BEVO Active Indicator LED Icon 1
~ 11 years ago   May 28, '12 10:38pm  
What if your making 300 - 500k per year? Nobody can really answer this question for you - there are to many variables to give such as specific answer. 4951
* Reactions disabled on political threads.
Message Menu
Fallon Active Indicator LED Icon 18
~ 11 years ago   May 29, '12 10:00am  
Removed By Request 4951
* Reactions disabled on political threads.
Message Menu
TexINS Active Indicator LED Icon 12
~ 11 years ago   May 29, '12 10:29am  
Hopefully they are funding their IRA's too. Big problem today is that not many are saving. consumers are spending too much on homes and autos, they will be in debt forever. 4951
* Reactions disabled on political threads.
Message Menu
Fallon Active Indicator LED Icon 18
~ 11 years ago   May 29, '12 11:27am  
Removed By Request 4951
* Reactions disabled on political threads.
Message Menu
N+T Active Indicator LED Icon 14 OP 
~ 11 years ago   May 29, '12 4:33pm  
my DH needs to increase his contributions.  Sounds like we are behind.  anybody have a Roth IRA or annuitys?  How do those work? 4951
* Reactions disabled on political threads.
Message Menu
BackInTexas Active Indicator LED Icon
~ 11 years ago   May 29, '12 8:03pm  
[ Removed by Author ] 4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 11 years ago   May 30, '12 10:52am  
It's always a good idea to contribute as much as possible to a 401k/IRA/Roth IRA.
 
However, before you start thinking that you're not up to par, ask some of the folks that stated $300,000 - $500,000 at age 41 what their age and balance is. It's an anonymouse board, so it's not rude to ask.
 
@BackInTexas:   I'm in my late 50's and before 2008, I had $1.2 mil in my 401k.  The crash took a big chunk of that!
4951
* Reactions disabled on political threads.
Message Menu
GoldenGirl Active Indicator LED Icon 15
~ 11 years ago   May 30, '12 10:53am  
@N+T  Sounds like you need to find a good financial advisor and have a chat..   With a kid on the way great time to start thinking about a 529 plan as well. 4951
* Reactions disabled on political threads.
12»
This discussion has been locked.
« Back to Main Page
Views: 2,013
# Replies: 29

The Atrium Center




Houston Custom Carpets Flooring & Remodeling Logo Sharky's Waterfront Grill Logo Decker's Carpet Cleaning Logo Heartstrings In-Home Euthanasia Services Logo Superior Janitorial Services Logo Anthony Electric Co. Logo Crust Pizza Co. - Kingwood Docks Logo J + A Pool Plastering Logo Rowland Ballard  Logo Shiner's Express Car Wash Logo Holy Comforter Lutheran Church & School Logo Challenge Soccer Club Logo Your Junk Our Trunk Logo Kingwood Mortgage Guy Logo K&S Sportswear Logo Best Investments Siding & Windows Logo Home by Zia LLC Logo The Brass Tap Kingwood Logo Kosmin Media Group Logo J & M Construction & Remodeling Co. Logo Always Best Care Humble Kingwood Logo Granny's Tamales LLC Logo Kingwood First Baptist Church MDO Logo Motorwerks Auto Group Logo Tay's Sprinkler Service Logo Camp Olympia Logo Marshburn's Flooring America Logo Bahama Mama Smoke Shop Green Oak Logo PWR House Generators Logo Kingwood Farmers Market Logo Massage Heights Body + Face Kingwood Logo iSchool High Atascocita  Logo
Sponsor an ad Sponsor an Ad »