Comments on: How Much Should Be in Your 401(k) at 30? http://www.moneyunder30.com/how-much-in-401k-at-30 Personal Finance for the Young and Ambitious Fri, 06 Nov 2009 23:10:14 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Kandy http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-3372 Kandy Sun, 25 Oct 2009 19:40:59 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-3372 Jeff - I'm curious, where do you live? One big differentiating factor that no one seems to be discussing is cost of living. I'm seriously impressed by what you have accomplished financially on your salary. I am 26, make $65k a year and although I am saving substantially in my 401k (contribute 7% which my company matches 100%), it is literally impossible for me to save elsewhere. I really don't have any disposable income. More than half my take-home pay goes to rent alone, which is relatively cheap compared to my friends ($1260/mth.) Am I really hurting myself by living in Manhattan? David - advice for ppl in my situation? I guess move or make more money, huh? Jeff – I’m curious, where do you live? One big differentiating factor that no one seems to be discussing is cost of living. I’m seriously impressed by what you have accomplished financially on your salary. I am 26, make $65k a year and although I am saving substantially in my 401k (contribute 7% which my company matches 100%), it is literally impossible for me to save elsewhere. I really don’t have any disposable income. More than half my take-home pay goes to rent alone, which is relatively cheap compared to my friends ($1260/mth.) Am I really hurting myself by living in Manhattan? David – advice for ppl in my situation? I guess move or make more money, huh?

]]> By: neteng http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-3313 neteng Mon, 19 Oct 2009 20:35:35 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-3313 Actually, many jobs in a major metropolitan area that require a bachelors degree pay easily over $30k a year at an entry level position. It also depends on your industry and education. For example, I am a 23 year old network engineer in the Washington DC metro area and starting salary is $50k Actually, many jobs in a major metropolitan area that require a bachelors degree pay easily over $30k a year at an entry level position. It also depends on your industry and education. For example, I am a 23 year old network engineer in the Washington DC metro area and starting salary is $50k

]]> By: Jeff http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-3308 Jeff Sun, 18 Oct 2009 13:33:57 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-3308 I am 30, a single father of a 12 year old girl, started making $21k when I was 20, put myself through school, bought a house, have an investment property, took trips to England, France, Italy and Walt-Disney 3 times, go to great concerts, enjoy good food and have more than $200,000 in my 401k. I started contributing when I was 21 and my company matches up to 6%. The key for me was whenever I got a raise, 1/2 went to me and the other 1/2 went to the 401k. That way, I still saw my raise and didn't miss the additional contribution. My salary is $68k now and I contribute 20% to 401k. You can do this!!! I am 30, a single father of a 12 year old girl, started making $21k when I was 20, put myself through school, bought a house, have an investment property, took trips to England, France, Italy and Walt-Disney 3 times, go to great concerts, enjoy good food and have more than $200,000 in my 401k. I started contributing when I was 21 and my company matches up to 6%. The key for me was whenever I got a raise, 1/2 went to me and the other 1/2 went to the 401k. That way, I still saw my raise and didn’t miss the additional contribution. My salary is $68k now and I contribute 20% to 401k. You can do this!!!

]]> By: Buddy http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-3067 Buddy Tue, 29 Sep 2009 10:07:44 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-3067 Government...that's all I need to say. They recruited me from college @ $40k. Started matching after 6 months, and fro the first 4 years, I get something like a 25% raise on the Accelerated Career Development Path. I should make around $55k in the next month or two. People can bitch about the government all they want, but they take care of the employees. Government…that’s all I need to say.

They recruited me from college @ $40k. Started matching after 6 months, and fro the first 4 years, I get something like a 25% raise on the Accelerated Career Development Path. I should make around $55k in the next month or two.

People can bitch about the government all they want, but they take care of the employees.

]]> By: Craig http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-295 Craig Tue, 05 May 2009 13:26:51 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-295 In response you can save a lot and also live a lot by 30. Just because someone has saved 270k by 30 doesn't mean they haven't spent a ton too. All depends on income..... In response you can save a lot and also live a lot by 30. Just because someone has saved 270k by 30 doesn’t mean they haven’t spent a ton too. All depends on income…..

]]> By: Nick http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-298 Nick Thu, 26 Mar 2009 17:56:17 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-298 Hi i am 23 year old recent college grad who has been working for 5 months now making 43k (my first 13 weeks i made 40k). My company matches up to $750 and i currently only have $50 with my percentage at 3%. Should i up my referral percentage until i reach the company match of $750 in order to maximize my company match as much as possible? what should my % be? I appreciate the feedback. Thank you. Hi i am 23 year old recent college grad who has been working for 5 months now making 43k (my first 13 weeks i made 40k). My company matches up to $750 and i currently only have $50 with my percentage at 3%.

Should i up my referral percentage until i reach the company match of $750 in order to maximize my company match as much as possible? what should my % be?

I appreciate the feedback.

Thank you.

]]> By: retireein2045 http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-304 retireein2045 Tue, 24 Feb 2009 21:10:11 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-304 hello, I am 28 and make 30k a year.I have 3,000 in my 401k and am maxed out on my roth ira for 08, 09.Also have emergency fund of 10k and another 30k in savings.If anyone can help me with allocating these assets plese reply.I live below my means and only buy what I need.currently in school to pursue software engineer bs.I am open to any and all investment ideas. hello, I am 28 and make 30k a year.I have 3,000 in my 401k and am maxed out on my roth ira for 08, 09.Also have emergency fund of 10k and another 30k in savings.If anyone can help me with allocating these assets plese reply.I live below my means and only buy what I need.currently in school to pursue software engineer bs.I am open to any and all investment ideas.

]]> By: Jessc098 http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-303 Jessc098 Tue, 24 Feb 2009 05:08:49 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-303 Read your article and now I'm depressed. I was right on track with where I should be, and now 19 months from "30" my 401K was halved by the recession. Oh dangit. I know, I know, it's shares and I've got loads of time to gain it all back, but it still feels awful. I worked and saved SO hard! If I was going to loose that much, I should have just bought a sportscar. At least that would have been fun! Read your article and now I’m depressed. I was right on track with where I should be, and now 19 months from “30″ my 401K was halved by the recession. Oh dangit. I know, I know, it’s shares and I’ve got loads of time to gain it all back, but it still feels awful. I worked and saved SO hard! If I was going to loose that much, I should have just bought a sportscar. At least that would have been fun!

]]> By: James http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-302 James Tue, 03 Feb 2009 21:25:45 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-302 I am 23 going on 24 and with the most recent events in the stock world, I have lost roughly 50% of my money. I am, however, not in the least bit worried about the rapid decline, but i am looking forward to the incline (it doesnt bother me to purchase when shares are cheap). As or right now i have roughly $19,000 in 401(k). I put in 12% of a $60,000 salary. My company puts in 9%. I was wondering if anyone had a hypothetical on where i would be at in terms of dollars and cents around retirement age (im shooting for 55, but who isnt?) Even if my salary stays the same and the percentages stay the same. And how much should i expect to have when i do retire? 2 mil? 3 mil? I just need to know what else i should invest and where i should invest it. I am 23 going on 24 and with the most recent events in the stock world, I have lost roughly 50% of my money. I am, however, not in the least bit worried about the rapid decline, but i am looking forward to the incline (it doesnt bother me to purchase when shares are cheap). As or right now i have roughly $19,000 in 401(k). I put in 12% of a $60,000 salary. My company puts in 9%. I was wondering if anyone had a hypothetical on where i would be at in terms of dollars and cents around retirement age (im shooting for 55, but who isnt?) Even if my salary stays the same and the percentages stay the same. And how much should i expect to have when i do retire? 2 mil? 3 mil? I just need to know what else i should invest and where i should invest it.

]]> By: Brian http://www.moneyunder30.com/how-much-in-401k-at-30/comment-page-1#comment-300 Brian Mon, 12 Jan 2009 14:15:00 +0000 http://www.moneyunder30.com/how-much-in-401k-at-30#comment-300 Hi gang, Love the blog....My name is Brian and my wife and are are 33. We have been BIG savers for years. We have about 200k total in retirement savings. Recently, we bought/rehabbed a lake house in Wisconsin, but the best part is we just paid it off....Together we make just over 200k combinded and plan to pay off our primary residence in under 2 yrs. I prefer to save about 90% of the money we make..We take shortcuts on things so we can enjoy the bigger things. Hi gang, Love the blog….My name is Brian and my wife and are are 33. We have been BIG savers for years. We have about 200k total in retirement savings.
Recently, we bought/rehabbed a lake house in Wisconsin, but the best part is we just paid it off….Together we make just over 200k combinded and plan to pay off our primary residence in under 2 yrs. I prefer to save about 90% of the money we make..We take shortcuts on things so we can enjoy the bigger things.

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