Sign up, and you can customize which countdowns you see. Sign up
Jan 26, 2015
11:31:32am
Maxing out a 401k ($18k) in your 20's seems a little unrealistic
And while I guess one could be more selective of your employer, your ability to put that much away relies on something largely out of your control (providing one and any matching).

Our goal for the last three years has been to max out a Roth IRA for both me and my wife (spousal IRA). It's within our control and $11,000 is a more reasonable amount for us to stretch to save than a really difficult $18k. And assuming we play our cards right and compounding interest does its magic (5% to 7%) minus inflation, that should be enough for us. $400k in principal + interest = $1million (4%) to $2.8 million (8%).
This message has been modified
Originally posted on Jan 26, 2015 at 11:31:32am
Message modified by JohnnyGJR on Jan 26, 2015 at 11:37:29am
JohnnyGJR
New username
brules
Bio page
JohnnyGJR
Joined
Sep 20, 2008
Last login
Oct 30, 2021
Total posts
0 (0 FO)
Messages
Author
Time

Posting on CougarBoard

In order to post, you will need to either sign up or log in.