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May 8, 2024
4:08
:26
pm
All-American
All-American
Depends on your age. If you have $4mm at age 25, you're probably ok.
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All-American
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all_american01
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All-American
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May 19, 2024
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Messages
Author
Time
Would you consider a $4 million 401k nest egg a decent amount for retirement?
CBaass
May 8, 3:48pm
Yes. Especially if housing is covered and medical expenses aren't crazy.
byubyu
May 8, 3:49pm
Of course. But 401k would mean it's all taxable?
Plato
May 8, 3:50pm
If it's Roth, no.
paulb
May 8, 4:58pm
Yep. That's a very healthy nest egg.
Zenoch
May 8, 3:50pm
If you can't make $200K a year work for you, then it's probably better if you simply pass away
Indy Coug
May 8, 3:51pm
#ActuarialSmack
TheWanderer
May 8, 3:53pm
Or move out of Manhattan or the Bay Area.
DubuMfalme
May 8, 4:51pm
That's way more money per year than most people live with now and with kids. You should be super comfortable in that
scall
May 8, 3:51pm
nah, poverty.
Mayor of Cougartown
May 8, 3:51pm
Me too. Rather be poor. Hate the taxes on that.
Don Carlton
May 8, 4:01pm
RE: Would you consider a $4 million 401k nest egg a decent amount for
Kilgore Trout
May 8, 3:52pm
Yes
BYU Grounds
May 8, 3:53pm
Sure, for most. I probably wouldn't be able to keep up with my payments though.
RSL
May 8, 3:53pm
Age?
ABN RGR
May 8, 3:55pm
If house is paid off, yes
Gustav
May 8, 3:55pm
RE: Would you consider a $4 million 401k nest egg a decent amount for
cougarim
May 8, 3:56pm
Not if you are 16.
Longseason
May 8, 3:57pm
Seriously? Anyone that says a 4 million nest egg isn't enough is nuts
docrick
May 8, 3:58pm
If you apply the 4% rule, how much could you live on every year for 30 years if
Scratch
May 8, 4:00pm
RE: If you apply the 4% rule, how much could you live on every year for 30 years
CBaass
May 8, 4:08pm
Sorry, what I meant was assuming 4% interest and 4M in 401K, how much could you
Scratch
May 8, 6:30pm
Between $220k-230k annually, with 4% growth you would run out in 30 years
BYUFootballisBack
May 8, 7:47pm
~$130k if you assume 4% inflation and adjust your withdrawals for said inflation
rad dawg
May 8, 4:20pm
Should be able to live comfortably on half of that, if invested well.
Hawk in the 303
May 8, 4:02pm
Half that amount and I would be ready to retire today - mid 30s
BYUFootballisBack
May 8, 4:07pm
Not if it was in your 401K, you wouldn't. Can't draw for another 25 years.
DubuMfalme
May 8, 4:55pm
There are ways to solve that, including just taking the penalty
BYUFootballisBack
May 8, 5:26pm
Sure, take the hefty tax hit, then try to live on 4% withdrawal for 50+ years.
DubuMfalme
May 8, 5:48pm
That is not what is being suggested
dratax
May 8, 6:02pm
Leave aside any of that and say it's 2M and you're retiring.
DubuMfalme
May 8, 6:27pm
My op wasn't saying I "would" retire, but that I could, especially as my current
BYUFootballisBack
May 8, 7:41pm
Look up Roth conversion ladders. You can access the money after 5 years.
Russnc
May 8, 10:11pm
Depends on your age. If you have $4mm at age 25, you're probably ok.
All-American
May 8, 4:08pm
You could put it in a HYSA right now or MMF and get 5.3% and not draw it
Windward_Coug
May 8, 4:17pm
If I had $4m in 401k, I'd quit my job immediately.
timpjynx
May 8, 4:46pm
Should be eligible for food stamps as well at that level or poverty. Good luck
machete
May 8, 4:48pm
Humblebrag of the year! Of course it is!
byucougarsbig12
May 8, 4:49pm
Biden’s weaponized lRS is knocking on your door. They want half!
byucougarsbig12
May 8, 4:53pm
If the 401k was in Roth accounts, right on!
rmsenior
May 8, 5:01pm
very comfortably if debt free and kids raised/done with college.
qwerew
May 8, 8:00pm
Certainly. Heck yes. Just be wise and disciplined.
DawgHaus
May 9, 3:41am
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