Financial Milestone Reached

[optimist]

I'm 11 years out of school and am closing in on $250K in savings, not counting the primary residence and rental property. Most is in 401K, but I do also have a 6-mo emergency fund as well as some college savings for my son. And I am finally paying off my student loans next month! Yuppee!!!

This past year my net worth has grown by far more than in the years past - due to market performance, as well as the fact that my debts are now mostly repaid and I no longer have to cover the interest charges.

After years of debts, expenses, and losses I'm finally beginning to see results.

[bjl584]

it appears that everyones wealth is locked up in a 401K or IRA, is there anyone saving elsewhere?

A little less than 50% of my assets are in retirement accounts. The rest is in cash and in my taxable brokerage account in the form of equities and mutual funds.

[FrugalTexan75]

age: 36, single, no kids
Income: ~$22k
Savings: ~$7k (including inheritance, some of which still may go to paying medical expenses)
Roth IRA - $6k
Traditional: $5k
403b : ~$18k
Taxable accounts (stocks): $~14k (partly inherited, partly not)

Had savings of upwards of 15K several times, then life circumstances (job loss, family crisis, etc.) and ended up going through most of it each time. At one point I was making over $42k/yr.

I am currently saving towards a car purchase to replace my 97 Honda Civic, as well as recently upping my Roth IRA contribution to $150/mo.

So ... I'm a good bit behind the eight ball for retirement, but other than getting a different job (which I don't want to do because I really love what I'm doing now), all I can do is all I can do. (Once I replace my car, I do plan to see if I can get to the point of fully funding my ROTH - between actual money I put in, and tax savers credit.)

[snafu]

Unknown: since you plan to track a couple of MFs, I suggest you also track BMO ZEB-T which are broad mkt bank shares for your TFSA, reinvesting the dividends. If that's too restricted/targeted, try any of the low MER Index funds to compare with interest rates for your RRSP. There is a big issue with RRSPs and the way they are/will be taxed by our greedy government in the future.

[Thrif-t]

Not net worth but coming close to getting 100k in my 401k, i have 95k. Been working 22 years and part time for the last 11. Never made more than 30k, it's taken a long time but I'm pretty proud of myself for getting close to that milestone on my measly salary.

[Emerald]

40
Single, no kids
TSP/Roth: $150,000
Eight month emergency fund plus savings for future land purchase
I think I'm on track. Fingers crossed.

[KingS]

Age: 26
Inc: $94k/yr (2 FT jobs)
Not married, No kids, no car loan, no mortgage.

Savings: $28k in high yield savings account, $6k & $2.5k in (2)401k account

Started working 2 jobs about 6 months ago. Not sure how long I can stay wtih this. Hoping to save as much as I can before I decide to switch to a single job with better prospects.