Comments on: How Much Should You Save For Retirement In Your 40’s?

By: CCR X2

CCR X2 — Wed, 18 Oct 2023 23:43:55 +0000

52yo 16% normal, 8% catchup

By: _jazzwon

_jazzwon — Wed, 18 Oct 2023 23:38:43 +0000

In reply to Aaron Meadows. Nice plan! How’d you figure out how much to have in non-retirement accounts?

By: Chris Pyk

Chris Pyk — Wed, 18 Oct 2023 23:09:56 +0000

In reply to rick m. Congrats! I'm looking to do the same thing myself, but I'm only at ~500k, so I'll be a few years behind you. Make sure you're contributing enough to taxable accounts so that you can make it to 55 without having to take early withdrawal penalties!

By: Matthew Smith

Matthew Smith — Wed, 18 Oct 2023 22:04:15 +0000

In reply to rick m. Awesome!

By: Kevin Kuc

Kevin Kuc — Wed, 18 Oct 2023 21:02:31 +0000

It goes quick 56 now , invest early

By: Eh der guy ya shoot a deer or no?

Eh der guy ya shoot a deer or no? — Wed, 18 Oct 2023 20:29:27 +0000

Great information. It’s about how you can live your best life for the whole thing. No point of dying with a hundred million while eating cat food and living in a cardboard box your whole life, but on the flip side, you do not want to get to 65 and have two dollars to your name and have to work until you are 85.

By: Scott

Scott — Wed, 18 Oct 2023 20:02:49 +0000

In reply to rick m. Some 401K allow you to do pre and post contributions. If you max pre then you can do post. At the end of the year you can convert that post to a ROTH IRA. At least this is what Fidelity has allowed.

By: Scott

Scott — Wed, 18 Oct 2023 20:01:00 +0000

In reply to rick m. Seems like you should be making our both of your ROTH IRAs as well (each: 6.5K '23 and 7K '24). A benefit of that is you can withdrawal and part of the contribution at anytime. Great for emergencies or early retirement (pre 59.5).

By: Un known

Un known — Wed, 18 Oct 2023 19:29:17 +0000

I’m 48, contribute 10% to 401k ev month

By: Brian Elleman

Brian Elleman — Wed, 18 Oct 2023 19:14:04 +0000

35%. It’s an addiction.