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At what point and age did your 401k really start to grow?
Posted on 9/13/17 at 4:21 pm
Posted on 9/13/17 at 4:21 pm
What amount of money did you have in your account and at what age did you really start to see you 401k grow?
Without being too specific I am between 25-30 with 15-20k in my 401k. I put 10% into my 401k with 3% employer match with Wells Fargo. Lately I've been seeing it grow or lose a couple hundred each day depending on the market of course.
Without being too specific I am between 25-30 with 15-20k in my 401k. I put 10% into my 401k with 3% employer match with Wells Fargo. Lately I've been seeing it grow or lose a couple hundred each day depending on the market of course.
13
Posted on 9/13/17 at 4:24 pm to RaginCajun87
quote:Don't Check it every day
Lately I've been seeing it grow or lose a couple hundred each day depending on the market of course.
Posted on 9/13/17 at 4:29 pm to RaginCajun87
You won't see that vertical trend you're talking about until around 40. compound is a matter of time
Posted on 9/13/17 at 4:38 pm to RaginCajun87
Let me warn you now that it's never enough. Due to some great opportunities that hopefully stay on track into the future we'll put away numbers that will make 59 1/2 worry free. More than I could have projected just 1 or 2 years ago.
And you know what? All I do is calculate how I can get there 5, 10, even 15 years faster.
And you know what? All I do is calculate how I can get there 5, 10, even 15 years faster.
This post was edited on 9/13/17 at 4:51 pm
Posted on 9/13/17 at 7:30 pm to RaginCajun87
Max your contributions, rebalance occasionally, and otherwise ignore it.
One day 10-15 years from now you'll be rebalancing it and suddenly realize you actually have a good chunk of money saved.
One day 10-15 years from now you'll be rebalancing it and suddenly realize you actually have a good chunk of money saved.
Posted on 9/13/17 at 7:45 pm to RaginCajun87
It's less how much and more how long. Based on the projections I've seen, it's all about piling in as much money as you can for 15-20 years. That's when it generally starts taking off.
Posted on 9/13/17 at 8:47 pm to RaginCajun87
As soon as i hit $70k the market jumped, within a couple of weeks my 401k hit $100k and has been fun to watch ever since.
Posted on 9/13/17 at 9:33 pm to RaginCajun87
When I hit 100k a few years ago, it really started to take off. But the dips are larger as well. I'm younger so I can recover the losses. Just hope the market is doing well when I get in my 50's and ready to retire
Posted on 9/13/17 at 11:23 pm to PolyPusher86
That first 100k was the hardest felt like it would never get there. you wont see it really take off till you hit the 500K mark.
Posted on 9/14/17 at 12:17 am to Texastiger2207
Yeah, I was thinking the $500k mark is a good line in the sand.
An easy way for me to dimensionalize it is to imagine 10% annual returns. Even at $100K, the $10K in returns isn't so dramatic. At $500K you would be earning $50K annually which "feels" like a number that really starts compounding quite rapidly.
Again, there is no right answer here and it is only your personal view.
An easy way for me to dimensionalize it is to imagine 10% annual returns. Even at $100K, the $10K in returns isn't so dramatic. At $500K you would be earning $50K annually which "feels" like a number that really starts compounding quite rapidly.
Again, there is no right answer here and it is only your personal view.
Posted on 9/14/17 at 8:52 am to RaginCajun87
37. just starting to see it move.
fwiw, i check the balances every month but rarely ever make changes.
going back and looking at it, i was seeing the same percentages (up and down) for years, i guess now there's more meat on the bone and the dollar figure changes are more evident.
fwiw, i check the balances every month but rarely ever make changes.
going back and looking at it, i was seeing the same percentages (up and down) for years, i guess now there's more meat on the bone and the dollar figure changes are more evident.
Posted on 9/14/17 at 9:49 am to RaginCajun87
Next year. That is when I qualify for my profit share and employer contribution. Going to be close to that max $53k annual contribution 
Posted on 9/14/17 at 10:10 am to MSTiger33
When trump was elected. I am up 18% since the election
Posted on 9/14/17 at 8:14 pm to RaginCajun87
Maxed out and checked it once a year for rebalancing. It had grown pretty good from the 90s until the hit in 2008 knocked it down. Under the Obama years, it got it all back and doubled into a nice chunk.
Still going well under Trump so far. Waiting for the inevitable correction but will ride it out,
Still going well under Trump so far. Waiting for the inevitable correction but will ride it out,
Posted on 9/15/17 at 8:20 am to Twenty 49
I am having the same issues as the OP as far as not seeing much movement but know it will just take time. IMO, 401K is just one of those financial rules you follow and it will pay off over the on long term. Set it up, get a company match and check it every other month or so. Ride out any downturns while your young and never stop investing.
FWIW, I am currently at 14% return from 1-1-2017!
FWIW, I am currently at 14% return from 1-1-2017!
Posted on 9/15/17 at 8:34 am to RaginCajun87
My 401k investing plan:
(1) Retirement date fund
(2) Contribute 8% with 6% match from employer
(3) Forget about it
(1) Retirement date fund
(2) Contribute 8% with 6% match from employer
(3) Forget about it
Posted on 9/15/17 at 8:35 am to RaginCajun87
I think what you're referring to is the "exponential curve"... While mine has steadily increased and I'm not complaining, I'm in my 40's and have yet to see that extreme curve. I've been making max contributions for nearly 20 years. I'm thinking this must not happen until I get well into my 50's or maybe longer.
Like others have said, don't check it too often, re-balance every so often and just keep diligently contributing and collecting your employer match.
Like others have said, don't check it too often, re-balance every so often and just keep diligently contributing and collecting your employer match.
Posted on 9/15/17 at 10:51 am to purplengold98
quote:
I'm in my 40's and have yet to see that extreme curve. I've been making max contributions for nearly 20 years. I'm thinking this must not happen until I get well into my 50's or maybe longer.
You've been maxing for nearly 20 years and haven't seen the extreme growth? You couldn't have missed the run since 2008. You should be sitting pretty??? You should have jumped a ton in the past 24 months with the amount of weight you have in the market??
Posted on 9/15/17 at 11:53 am to purplengold98
quote:
I think what you're referring to is the "exponential curve"... While mine has steadily increased and I'm not complaining, I'm in my 40's and have yet to see that extreme curve. I've been making max contributions for nearly 20 years. I'm thinking this must not happen until I get well into my 50's or maybe longer.
Like others have said, don't check it too often, re-balance every so often and just keep diligently contributing and collecting your employer match.
Your returns haven't been spectacular since 2008? That's where my curve took off!
Posted on 9/22/17 at 4:03 am to RaginCajun87
I started at 18, didn't really notice the big jumps till about 35 and 45 and early 50's - the nice big jump
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