Retirement Milestones Reached

[StormRichards]

I found a few threads related to milestones but one was specific to a member and the others were about whether people celebrating milestones.

For me, sharing the excitement that I reached a new milestone is celebration enough. So I am creating this thread for anyone that wants to post about a recent milestone reached.

[StormRichards]

Without further ado...

I surpassed $250,000 in my 401k with the 12/7 closing balances.

[kork13]

We also recently crossed above $250k in our retirement accounts. With 30 years to go, I'm feeling good about having sufficient for our needs, regardless of SS or any possible pension.

[creditcardfree]

Our next retirement milestone is $400K. Just another $7K to go, but yes we are now at an all time high, as of December 7, 2016.

[StormRichards]

We also recently crossed above $250k in our retirement accounts. With 30 years to go, I'm feeling good about having sufficient for our needs, regardless of SS or any possible pension.

That is awesome!

The $250k was for my 401k only. My DH has more than I do in his 401k and our Roths have equal amounts. Combined, we are nearing a different milestone.

18 more years to my goal to retire at age 55, but plan to work longer if the numbers don't make sense.

[LivingAlmostLarge]

congratulations to one and all.

[puck36]

As of 12/7/16 I have a total of $217,609 in ESOP, 401k and Roth IRA

[tripods68]

That's great Congratulations!

Our milestone is 500k in retirement/investment account balance. Hopefully we can achieve by Dec 2017 if the market takes off next year. We are about $439k as of 12/7/16. Maybe we can get lucky if we get close to 450k by end of the year.

[rennigade]

Nice work Storm. My 401k is currently at $247...my next check will contribute $500 to max it out for the year. If the market does well over the next 2 weeks im hoping to make it north of $250...we'll see.

Anyone who has money in the market has had a good year. We dropped $100k in cash on a house down payment and our accounts are still up for the year. No complaints.

[StormRichards]

Nice work Storm. My 401k is currently at $247...my next check will contribute $500 to max it out for the year. If the market does well over the next 2 weeks im hoping to make it north of $250...we'll see.

Anyone who has money in the market has had a good year. We dropped $100k in cash on a house down payment and our accounts are still up for the year. No complaints.

Great job!

[tripods68]

We bought our new house Sept and after closing, repairs, and new furnitures we are still up for the year attributed mainly toward retirement contributions + employer contributions about 50k this year.

[97guns]

is your retirement savings on pace?

http://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.asp?partner=YahooSA&yptr=yahoo

[bennkar]

Never came up with a definite amount I have to have for retirement. And when I was 35 I had $0 in retirement accounts & savings. 19 years later and as of today's balances I have $460k in the retirement account, $113k in a Roth IRA, $57k in the brokerage, $43k in direct stock ownership, and $30k in cash.

Different ways to look at this are its 7 times my annual earnings, or its 10 times earnings excluding taxes, or its 28 times when you exclude taxes and what I save each year (that is... base expenses). And a pension in 6 years time, so yes I should be on target now after making up for lost time.

[LivingAlmostLarge]

Never came up with a definite amount I have to have for retirement. And when I was 35 I had $0 in retirement accounts & savings. 19 years later and as of today's balances I have $460k in the retirement account, $113k in a Roth IRA, $57k in the brokerage, $43k in direct stock ownership, and $30k in cash.

Different ways to look at this are its 7 times my annual earnings, or its 10 times earnings excluding taxes, or its 28 times when you exclude taxes and what I save each year (that is... base expenses). And a pension in 6 years time, so yes I should be on target now after making up for lost time.

You just proved how saving early and consistently makes a difference. In 19 years saving money means a lot.

[rennigade]

Close...401k at $249,058 as of 12/14