Well, how much do you have in your 401K and how old are you?

Discussion in 'Industry Veterans' started by Anonymous, Nov 5, 2009 at 5:50 PM.

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  1. anonymous

    anonymous Guest

    Good for you! What company? Probably joints or spine I am assuming.
     

  2. anonymous

    anonymous Guest

    Age 64
    No debt
    Net worth $4.4M (3.6 is 401K)
     
  3. anonymous

    anonymous Guest

    54
    True numbers here....
    650K 401K/Roth combined
    200K liquid cash
    No debt at all.
    Paid off 550K house
    Spouse has great pension, 457 and 401K as well.
     
  4. anonymous

    anonymous Guest

    Almost 58
    IRA/401K - $1.7 million
    After tax investments/savings - $3.3 million
    Home value - $1.5 million (really jumped this year)

    Total Net Worth - $6.5 million

    We originally bought our home for $650K. Was planning to downsize when I turn 65, but thinking about selling now in a hot market.
     
  5. anonymous

    anonymous Guest

    60 years old
    2.5M 401K
    300K other
    No debt
     
  6. anonymous

    anonymous Guest

    That 2.5 million is really about 2 million after the Fed gets it's cut. I always subtract minimum 20% off the number to really see the net money. I don't have quite a million yet in my 401K, but we have a pension that's worth net 1.8K over a 35 year span.
     
  7. anonymous

    anonymous Guest

    2 million is $80K a year in retirement using the 4% rule.
     
  8. anonymous

    anonymous Guest

    3.6M in 401K
    450K other
    No debts
    Age 64
     
  9. anonymous

    anonymous Guest


    It is not as simple as just cutting it 20%. You are only withdrawing a small percentage at a time, with the majority continues to grow on a pretax basis. It is better to run a long term calculation that looks at the growth of the account, the project distributions and then a few scenarios on tax impact. My father has been taking out just the RMDs and, at the age of 86, has 3x the balance in his account compared to when he actually retired.
     
  10. anonymous

    anonymous Guest

    Yes, you are talking about Monte Carlo simulations. Firecalc does this well. www.firecalc.com
     
  11. anonymous

    anonymous Guest

    Just ran the numbers. I can pull down $250K/year until age 87, which an age I am unlikely to reach, based on family history.

    Zero debt, but still can’t find the courage to pull the trigger.
     
  12. anonymous

    anonymous Guest

    I assume you are including Social security, or pension, or spouses numbers as well. Otherwise, if you are talking pure investments only, you would need 6.2 million to pull that a year.
     
  13. anonymous

    anonymous Guest


    You are doing GREAT!! I am 61 and have about 5.8 million. No kids, house worth $750 and am retiring in next year.

    Do you have children? Did you inherit a lot? Anyway, great job. I'd pull the trigger no later than 60 if I was you. You won't outlive your money.

    I have been very conservative with my investments--thus older and a bit less.
     
  14. anonymous

    anonymous Guest

    I am right where you are!!!
     
  15. anonymous

    anonymous Guest

    Thinking I am going to retire early. 54 years old. Guaranteed 5K net income every month forever. $750K invested in retirement vehicles 70/30 S&P 500, 110K very conservative stable fund, 200K cash to live on till
    59 1/2, no debt of any kind. Paid off 500K mortgage and kid married off and self sufficient.
     
  16. anonymous

    anonymous Guest

    Spouse and self both 54
    401ks/IRAs $2.4M
    Taxable $1.6M
    House paid off and worth $420k
    Modest pension at 65 of $7k/yr
    Combined S.S. at 66 projected $64k/yr, though I figure a 60% haircut in calcs
    Kids college saved in 529s

    Both retired in Jan 2021, will likely work part time in 2023 as fly fishing guide. Wife plans to substitute teach at some point. Lived on half our salaries for 30 plus years, basically
     
  17. anonymous

    anonymous Guest

    We have 4 children. 1 in high school, 1 in college and the other 2 are grown and on their own. We have not inherited anything. I have asked my parents to leave our portion of their estate to our kids as my wife and I will not need it. My father-in-law is still alive, but won't leave much (nor do we need it). I think about retirement from time to time, but still haven't decided when I will pull the trigger.

    I am somewhat on the conservative side with investments with a current 60/40 allocation.
     
  18. anonymous

    anonymous Guest

    64 years old and have $3.7M in 401K, plus another $460K in mutual funds, cash and stocks. Zero debt.
    Have pension and SSi to supplement income.
     
  19. anonymous

    anonymous Guest

    Age - 57 (29 yrs with the same company)
    $2.6 mil in 401k
    $400,000 current value in company stock
    $350,000 cash/stocks
    $1.9 mil in pension
    $4 mil in trust upon the death of my remaining parent (not figuring into retirement numbers as parent is healthy and could always change their mind and leave it to the SPCA)
    $240,000 in college loans I promised to pay off for kids. Will pay off once stock hits a strike price I have in mind but no later than prior to retirement
    wife only worked a few yrs prior to the kids coming along then was stay at home mom
    Wanting to get out in 2 yrs as I will qualify for retirement with no reduction in pension
    Also planning on getting out of the NE to a more tax-friendly and climate friendly state
     
  20. anonymous

    anonymous Guest

    65
    3.8M in 401K
    300K in mutual, stock, cash
    No debt