Let's hear it folks, how much in the 401k?? Level 7 here, engineering. 8 years in. 85k in the accounts.
18 replies (most recent on top)
I've been trade in my roth ira myself and make more than what i would be contributed. Once the economy tanks, i'll start contributing more.
To the 3yr NCH - you need to up your game now... 4% is nothing.
NCH for 3 years.. been contributing 4%. 33k in 401k 26k in roth.
Good luck with the corrupt stock market in retirement, you'll need it.
Over and above the $19K IRS limit, you can put in after-tax money and immediately convert it to Roth money with negligible tax consequences (only earnings are taxed). It’s called the “Roth in-plan conversion” and we are very lucky to have access to this “loophole” in our plan. New in 2018, Fidelity can now set up after-tax to automatically roll over to Roth so that you do not have to call in every pay period.
If you aren't putting in the max every year, you are doing this all wrong.
Max out your 401k, max out your HSA. Then put the 6K into an IRA.
If you don't have the money left after that to live on, you are living waaaay above your means.
40yo and level 7b. Started contributing 8% into 401k from day 1 with GM 3 years ago. 55k in 401k as of today.
7a, a bit over 1.2 million. Plus the GM pension, capped at 1,800/month and about 50 k in an HSA, almost 24 yrs with GM, 7 years with another firm. 59 yrs old.
All of you have to retire as hobos.
46 years old (almost 47)
23 years at GM
7A Engineer
$840k in my 401k
$110k in a Roth
Hoping to retire at 60.
48 y/o. I've been contributing to 401k since my first job with plan at age 21, at least to get the match. Current balance of all accounts $515K plus a pension lumpsum estimated $50K. Was planning to step up my contributions this year to 20%.
People should be posting their age, tells u more than tenure with GM. I spent 4 years here but 70 pct of my 401k is from my old employers where I spent 12 years. I have 400k
Level 6, 3 years. 61k
7b 3yrs 120k
56 y/o,
7b,
29 years,
$476 k
Survived the purge of 2019, but I’m going to buckle down and start putting more in the 401k. Looking at rolling over into an external fidelity account to broaden choices.
I’ve pretty much kept 70-75% in stock funds (mixed) and the rest in bond funds, these days in the one we called GM Income fund. But the threat of losing job at around the time the market was wobbling I moved money from stock funds to that other fund so the mix is more like 48% stock, 44% bond and the rest in some misc. I figured I’d let it rest at least 90 days until I saw what might happen with the job. In about two weeks I can look on rebalancing. I’ll probacly get back in a bit lower than where I left, but at my age not so sure I should have as much as I did in stocks.
7b. 6yrs. 240k rsp
Level 6, engineering, 4.5 years in, $90k in 401k, $12k roth IRA
I left GM a while back, and found another job, but rolled over and now have $760K. Consolidated at Vanguard, and allocated 35% stocks, 35% bonds, 20% REIT's, 10% cash. I offer the following: rely on your skills, your family, and God. Not an employer.