Enough to retire?
40 replies (most recent on top)
35 years old
233k in 401k (about half Roth dollars)
Should make 200k this year as a retail bank
branch salesman
Net worth 480k
No debt outside of the mortgage
Am I on track?
43 yo- charlotte nc
750k in 401k.
1 million in taxable.
600k house w
No debt...
Really want to retire/ quit February 2026...
About $3m in the 401k and another $10m in taxable, house, etc. I've been saving most of my money for my whole life
Shoot. I thought I was in good shape, but seems everyone else is doing better. 55 and 1.2million in 401K. No debt.
Bunch of millionaires on here from what I see based on posts. All that money and you sit here and complain about the company that made you your million(s). Or at the very least was a big part of it. Move along pikers.
- 7M. Was 2.1M a month ago.
60 years old. Would have had more, but I didn’t get serious about investing until I was 30 or so. Wish I could go back in time and kick some financial sense into myself.
My net worth is like $3MM but $1MM is in 401(k) (no real estate). I honestly think the limited investment choices in the 401(k) are a risk but I guess my more-focused investments can be elsewhere.
Don’t blame HR and legal, blame all the pikers that sued long ago leading to the glass steagall act.
In WIM, they actually offer lunch and learn type classes for various topics with the in-house SMEs for particular products. SS, 401ks, IRAs, house shopping/mortgages, insurance, ect.
You can really learn a lot of you just take the time. Most of it was targeted for younger professional, but turns out many older professionals have questions as well.
There was a big issue years ago when WIM wanted to reach out to non-WIM employees about offerings, but HR and legal said no. So thank them
If you're looking for opportunities to save more, read up on strategies to maximize the benes of an HSA. I max mine out every year, pay for those expenses OOP and just let the money grow over time. You can have a expense tomorrow, but not pull the $ for 20 years. In the meantime it's grown 3x. There's no limit on when you reimburse yourself. Take advantage. Obviously this only works if you can afford to OOP these expenses, but it's a perfect tax shelt if you can. The money is not taxed on the way into the account or on the way out (presuming you follow the rules).
- 5, just short of a mil. No debt, own my small but solid and humble home, drive a ten-year old car, no cable TV or booze. :)
41yrs old - 260k, lost about 60k in a divorce 8yrs ago. Should be around 350k.
41 years old - about $330k in my WF 401k
I would focus on making 4 percent a year on every million which is 40K year not including SS. That would be a decent living for a single. 2M for a couple making is also fine once you add in SS. I would target 3M for a couple if possible. It’s about income generation without major draw down.
Example. 40K on savings and 36000 on SS is 76. A couple double that would be 150K. And that is great with a paid off house. 🏡
Tell your young co-workers to invest. I have worked with all these 20 and early 30-year-olds and some of them didn't even put 6% in. Yet they go on all these out of country vacations and drive cars that cost more then my house.
I admire alot of you on here who have posted. I am 44 and been socking away since I got hired full time at 18k a year. Luckily I make way more then that now and my 401k is at $500k. Not where I want it but I feel I am on track. I have a paranoid fear of retiring and only having SS to live off of so seeing some of yalls numbers reaffirms my personal investments.
Just a broad statement but I do wish Wells Fargo would broaden their employee options for retirement. I max out my 401k yearly but it would be great if they offered an annuity buy in. Or a conversion to roll some of your balance into an annuity (don't know if that is even legal). It would be awesome as well if they offered webinar sessions on retirement investments and options. I am baffled why they don't do anything at all.
47
Me 450
Wife 350 mixed
House equity 250
Various +100
= 1.15 and broke
All maxed 401K. Should be on target for 60 at 4M. Plenty of money in 12 years
2 bucks, now .40 cents. I’m retiring next week for mental health issues for real Eff it ALL! fr!
Being facetious, but for real, you have to get the he-l out of there for your mental health. I got laid off and it’s been the best thing in my life.
Wells Fargo su-ks the serious health out of your mind ever, on the daily!!
Four 401Ks now. They're looking phat summed together, but I lost almost all my pre-inauguration gains (i.e. gains from early Oct-ish 2024 - 20 Jan 2025). The Mag 7 can get the bozack.
66 y/o spouse and I together in 401K/IRAs - $5MM
About 60 w/ about $1M. Like another poster, delayed getting into the game until later in career… should have 3x by now. Squirreling 100% into Roth now to mitigate tax exposure.
4 million. I'm out!
52, female just under a million. I'm retiring in 10 years no matter what.
49, about $900k. Good buying opp right now.
41 age. $318k, was up to $354k before trump sank the stock market.
53 at 440k. Lame me. Will work for at least another 15 years.
I was over $3MM between 401k, Ira and other savings before mango man lost the rest of his mind.
Give me a package and I’ll go retire.
Explain how that makes WF cheap?
I was 54 when shown to the door at my former employer with a net worth of $1.5 million. I could have retired because I had a paid off house and no debt. Healthcare is the biggest reason I found myself at WF. My net worth has doubled now. However I will never feel comfortable no matter which administration is in charge. I still feel like I’m going to end up living under a bridge because we have too many takers now. Everyone has their hand out.
Not much. Ignored it for too long.
$370k. 56 yrs old
None ya f’ing business
Mine is all in WF stock. When it hits $90 per share, I can retire.
- 7m with 401k and IRAs. Age 49
- 2M across various retirement accounts/ all in money market since Jan 20.
Can retire. I live in NC.
several million, but that's in Chilean pesos, because I want to live in South America
was 2.3 now below 2.
10 billion dollars! Puts pinky to lips.
I will be 55 this year. I have $640,000 in my 401K ($705,000 in December)
I also have $160,000 in other retirement accounts and investments (significantly down since December).
I'm terrified of not having enough for retirement.
$1.5m - was over $2m in December. What is enough to retire??
Thanks, do you believe you have enough to call it quits? Or do you plan to continue working till 62/67/70 ?
$1.5m - was over $2m in December. What is enough to retire??