38M - $110k/yr utilities sector - USA
Contributing 6% + 6% Match + 4% profit sharing = 16%
Mortgage ($160k balance on $300k home) is our only debt
Wife is SAHM, kids are 7 and 10. College is not a concern.
Not expecting any major inheritances at any point
I’d Ike to target 60-62 for retirement, we live in a LCOL area. Is that achievable?
I’m a 33-year-old married male living in Northern California. My wife is 30, and we’re expecting twins. We’re looking for advice on whether we’re on the right track for retirement.
Here are our current finances:
Me: 33 years old, earning about $180,000/year
Wife: 30 years old, earning about $100,000/year
Combined household income: ~$280,000/year
Rent: $2,000/month
Debt: None (cars and student loans are fully paid off)
I only started taking retirement seriously about three years ago. I gradually increased my retirement contribution from 10% to 20% of my salary, and I increase my own contribution by 1% every year. My employer does not offer a match—they only contribute a flat $1,000 annually.
My wife contributes 10% to her 401(k) and currently has about $80,000 saved.
Given our ages, income, and situation, are we behind, on track, or ahead for retirement? What would you prioritize over the next 5–10 years? Should we focus on increasing retirement contributions, saving for a home, building a taxable investment account, or something else? Any advice is appreciated.
I’m 29, take home about $6,500/month and my goal is to become financially independent and retire by 40-42.
$252k inherited Fidelity 401k
$61k personal 401k
$164k IRA (QQQ, VOO & FXAIX)
$40k savings
$27k outstanding debts
The inherited 401(k) can’t be withdrawn until I’m 30, but I can reallocate the investments.
If you were in my position, what would your game plan be over the next 10–11 years? Would you pay off the debt first, diversify more, or start building a taxable brokerage while continuing to max tax-advantaged accounts?
I’d especially love to hear from people who’ve reached financial independence or built a substantial portfolio. Looking back, what would you have done differently?
I posted something similar before, but I was overwhelmed by the responses. If you’re open to sharing your experience or mentoring someone who’s serious about learning, I’d really appreciate a DM. I’m also open to connecting with like-minded people and discussing opportunities to learn together and, if the right opportunity and mutual trust are there, potentially invest together.
Thanks in advance. I genuinely appreciate any advice.
I have about $700k in Fidelity 401k with previous employer. I am with a different employer now.
My 401k now is invested under a target date plan.
I am over 59 and half years old now. And I want to retire at 63.
I have a few questions before doing anything real.
Any suggestion is very much appreciated.
Thank you.
Looking for any advice that you would have given yourself when you first started working, in terms of long term retirement planning. I just graduated and will be starting my full time job in 2 weeks. I’ve only ever worked a 10 week internship, so all new stuff for me. In addition to my jobs 401k, would opening a traditional Ira or a Roth 401k be helpful? Or both?
According to the community rules I need to share my salary: 110k base, 10k sign on, performance bonus- no idea, from what I read online anywhere from 0-80k. Also in hcol.
0 debt.
So far I hold roughly 30% qqq, 30% voo, 10% spmo, 20% vxus, and 10% ais.
Apparently for my 401k I can invest up to 50% of my eligible paycheck toward the annual $24,500 IRS limit, and my company will provide a dollar-for-dollar match on the first 6% I contribute.
Is this a good plan? I don’t know what would qualify a 401k plan as good or bad, I do know some employers have better plans than others. Just curious where this plan stands.
At 36, I only have 40,000 invested and I can't believe how damn far behind I am. You all really inspire comparison. Has anyone started late and made it to a healthy place?
I am currently running Claude models almost weekly to understand my financial situation.. and eventually spiral from the simple compound interest calculators to Monte Carlo and other simulations to feed my worst case assumptions.
I currently have the following:
So about 830K liquid because I don’t count items 4-5.
I spend about 80K annual. And gross 225K
By all means I feel sort of okay but can’t stop thinking of worst-cases outcomes.
Do you guys have any input on how to deal with these feelings? Just keep dumping money in?
83k yearly salary
My total contributions are split 78% roth 22% pre-tax
Current contributions are 6% pre 6% post with 4% company match
The company my 401k is through makes all investments for me
I may be switching jobs in the next year and will be taking a pay cut for 2 years then be making 92k a year at top pay. I'm not sure what my monthly expenses will look like in 30 years, I live in a relatively low COL area and I'm hoping my house will be paid off by retirement. I don't plan on having any kids. I was just wondering how this looks to the people that are more financially literate than me because I have no idea what I'm looking at or what to expect.
Everywhere I have read/heard that one is supposed to use taxable brokerage accounts first and then use tax deferred accounts like 401k next, and Roth last (if you have it).
I certainly understand why Roth should be used last, but have a question about the other 2.
In our case (early 50s), we have been maxing out our 401ks for past 15+ years, and consequently have $2.8M in tax deferred accounts.
About 9 years ago, I decided to systematically start building up a brokerage account and an emergency fund. As of now, we have $1.3M in these - of that $950k is in brokerage and $350k in cash/CD (I know this is a rather large emergency fund, but it gives peace of mind and earns 3.5% interest).
The brokerage account is great to use as a bridge if we lose our jobs at any time before getting to age 62 (social security retirement age), but if we can hang on to our jobs till then and keep saving, my estimate is that we will reach about $5-6M in tax deferred and $2-2.5M in brokerage plus cash.
Now everyone says having $5-6M in tax deferred around 62 will result in a big RMD problem at 75. Hence, what if we exclusively draw from the tax deferred accounts (like 4-5% per year) in the first decade of retirement and leave the taxable brokerage accounts alone to keep growing and compounding?
This is counter to the standard advice, but will solve the RMD issue for us at least without having to implement fancy Roth conversions.
What do y’all think??
Need Help With Setting Up 401k
I just started my first real job. Fresh out of college. Interested in highest growth possible as retirement is far away. Which index funds and at what percentages do you guys recommend?
* FID 500 INDEX
* FID LG CAP VAL IDX
* [PARNASSUS CORE EQ IV]
* [VANG VALUE IDX ADM]
* [DFA US CORE EQ 2 I]
* [FID MID CAP IDX]
* [FID SM CAP GR IDX]
* [FID SM CAP IDX]
* [AF EUPAC FUND R6]
* [AF NEW WORLD R6]
* [DFA EMRG MKT CORE EQ]
* [DFA INTL CORE EQ I]
* [DFA INTL VALUE I]
* [DODGE&COX INTL STK I]
* [DFA REAL EST SEC I]
Im leaving my job in a few weeks. Do the funds stay with empower?
Does anyone have want recommendations for a place that I could transition them to?
Hi! I need some advice or I’m curious to see others input. A few factors : I’m going to be turning 23, graduated college recently, and going to be starting a new job in a new city. My jobs located in Carmel, and I expect for rent to be around $1500 give or take. Unfortunately this is non negotiable as living is expensive in this area and I want a 1bedroom 1bath rooms. I’ll be getting around $55k for my job before taxes and I’m curious for my age how much should I put into my 401k? I’m thankfully not in any debt or have any loans, but I still want to enjoy life and have room to spend and explore a new city! With that in mind please leave recommendations of a percentage you’d recommend!
More info:
Salary: $140k | 10% contribution w/ 7% employer match
Savings: $30k in HYSA
Husband: $80k annual CRDP (pension + VA comp)
I haven’t thought much about my target number or retirement age. Would be nice to retire early since my husband retired at 40; want to do what makes most sense, especially since I really do love my job. I’m thinking 58-60?
Been maxing since 26. Have had a match of 50% which has been very helpful. Trying to figure out what will I get when I retire if I keep maxing for another 10 years. Honestly hoping to retire by 50. NW (including house, cars etc is 2.9mil (I do have a 700k mortgage which I am trying to pay down as fast as possible)
About 4 years ago I had $342 to my name. Absolutely no savings or investments. Plus $32k in student loan debt and $8k in medical debt. Then 3 years ago I was offered a sales job and took the jump into a real career. I'm 36 and I know I'm doing better than I was. I just feel like it will be too little too late. I fear I won't be able to retire before 62. Even if I do get to retire I fear I won't have enough money to live comfortably.
I contribute 10% to my 401k and my employer matches 7%. I've maxed out my Roth the last 3 years. I currently make ~$170k/yr but I have minimal job security. I live in a LCOL city and my expenses are minimal. Mortgage is $600/mo, car is $500/mo, and the other typical small bills.
Am I fucked, and average joe, or am I doing well?
Fidelity says there's a "max 10%" under my "pretax" bucket. I want to increase my contribution from 10% to 15%. Can I make my "pretax" 15% even though it says there's a 10% max? Or do I need to add the extra 5% to pre-tax supplemental or another bucket?
Sorry for the stupid question. I'm not the most financially literate, have been broke most my life. Finally on track and trying to do better.
Hello I new to the thread. I was looking for some insight on where to start putting some money instead of just saving it in the bank. I know some people suggest putting it in real estate, some people say stocks and I’ve also heard Roth IRAs.
I have about 25k saved but I don’t know how to get myself ready to save for retirement and build wealth. Can someone point me in the right direction to set myself for success.
Say one has done the sums and is comfortable opting for early retirement at 50 years old, should he then pay off his mortgage OR use the funds sufficient to pay off the mortgage to invest? Afterall housing loan interest rates have come off a lot to below 1.5% and it is not difficult to get investment returns of 4-5%? Of cos the argument is how safe is the investments but fundamentally, I am of the view that the mortgage should NOT be paid off and the gearing is considered “good” gearing. No? Especially so when the LTV on the property is comfortably below 50%.