How much % are you invested in your 401K

[rmJU72]

18 minutes ago, HugoStrange said:

Big chunk ante oka number cheppu kaka

Use this to estimate - if u start at 25 and put in 30k per year, on 8% per year, it will give you abt 850k by the time you are 40

 https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1%2C000%2C000&cstartingprinciplev=0&cyearsv=15&cinterestratev=8&ccompound=annually&ccontributeamountv=30%2C000&cadditionat1=beginning&ciadditionat1=annually&printit=0&x=Calculate#calresult

[HugoStrange]

8 minutes ago, rmJU72 said:

Use this to estimate - if u start at 25 and put in 30k per year, on 8% per year, it will give you abt 850k by the time you are 40

 https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1%2C000%2C000&cstartingprinciplev=0&cyearsv=15&cinterestratev=8&ccompound=annually&ccontributeamountv=30%2C000&cadditionat1=beginning&ciadditionat1=annually&printit=0&x=Calculate#calresult

nethi meda full appulu pedithe ekkada kuduruthundi le maa lanti vallaki

[Konebhar6]

19 minutes ago, Spartan said:

if u joined job at 28 and started maxing out 

by 40 you will have 540k at 7% avg return rate

assuming your investment is 240k with avg of 20k contribution per year

Curious...How did you get 540k? Did you include employers contribution as well? My calculation lands at 360k. I did 18K per year+7% return

28	18000
29	37260
30	57868.2
31	79918.974
32	103513.3022
33	128759.2333
34	155772.3797
35	184676.4462
36	215603.7975
37	248696.0633
38	284104.7877
39	321992.1229
40	362531.5715

[Spartan]

Just now, Konebhar6 said:

Curious...How did you get 540k? Did you include employers contribution as well? My calculation lands at 360k. I did 18K per year+7% return

 

28	18000
29	37260
30	57868.2
31	79918.974
32	103513.3022
33	128759.2333
34	155772.3797
35	184676.4462
36	215603.7975
37	248696.0633
38	284104.7877
39	321992.1229
40	362531.5715

nenu 20k avg vesa contribution

[rmJU72]

6 minutes ago, HugoStrange said:

nethi meda full appulu pedithe ekkada kuduruthundi le maa lanti vallaki

force urself to contribute but definitely education/CC loans first then savings

[Hems]

I started my 401K at 30, Maxed out most years, didn't contribute for 3 years in-between (not full time during that time). 

I am 43 now and my 401K balance is 563K (with 18K average contribution per year)

If you start early 401K can be a big wealth generator.

[jersey babai]

26 minutes ago, Hems said:

I started my 401K at 30, Maxed out most years, didn't contribute for 3 years in-between (not full time during that time). 

I am 43 now and my 401K balance is 563K (with 18K average contribution per year)

If you start early 401K can be a big wealth generator.

100%

Power of compounding. I regret not doing it in my OPT/Initial H1 days. 

[JaiBalayyaaa]

On 6/29/2023 at 10:28 AM, sarvayogi said:

401k is just a waste of thing..ppl think saving every year small amounts will give big amounts at retirement

You are just giving your hard money to govt for free and for them to invset some where else and you loosing 40-45k an year(if both invest) in cash and again spending those expenses on credit cards and paying interest

Wow, @tennisIuvrredux uncle cheptunte edo anukunna, you have zero financial education. 

[JaiBalayyaaa]

23 hours ago, Thokkalee said:

If you have enough income, it is a no brainer to max out on the 401k and also IRA.. it is 27K  (20.5 401K + 6.5K IRA) per year per person, not counting the employer contribution… that would be only 14K in hand if you don’t contribute to 401K and pay taxes on it (assuming you are in the 30% tax bracket). you are losing 6K every year in taxes by not contributing.. over the period, this just adds up.. also you have 20K generating income instead of 14K.. 

Yep, maxing out 401k and IRA, double income. 

[JaiBalayyaaa]

23 hours ago, Konebhar6 said:

Ila anukonee 401k contribution start chesa. But started thinking about exit plan these days. How would you take the money out? 

You shouldn't have to take it out. If you take it out before 60, there is a fee. Some people take 401k loans, those are the worst kind. 

[Chakram12]

1 hour ago, JaiBalayyaaa said:

You shouldn't have to take it out. If you take it out before 60, there is a fee. Some people take 401k loans, those are the worst kind. 

why, that is best loan. ur paying interest for urself. if u use money wisely like buying home or something 

[Spartan]

2 hours ago, Hems said:

I started my 401K at 30, Maxed out most years, didn't contribute for 3 years in-between (not full time during that time). 

I am 43 now and my 401K balance is 563K (with 18K average contribution per year)

If you start early 401K can be a big wealth generator.

@Konebhar6 practical numbers ivi

[Chakram12]

3 minutes ago, Spartan said:

@Konebhar6 practical numbers ivi

Uncle…. 401k  ante nuvu gurthu vasthav uncle  

[Spartan]

12 minutes ago, Chakram12 said:

Uncle…. 401k  ante nuvu gurthu vasthav uncle  

enduku @Chakram12 

[Konebhar6]

33 minutes ago, Spartan said:

@Konebhar6 practical numbers ivi

@SpartanMy 401k numbers are similar to yours.