I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collaborative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
I've stuck with ‘’Julianne Iwersen Niemann” for about 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
BofA 401k plan has started allowing Roth 401(k) contributions and will allow us to convert the Traditional Portion to Roth. Super excited! Thanks again Gentlemen. Love your approach to free-thinking involved with long-term investing. J. Gold
Thank you for the amazing content! As someone who's contributing well more than my company's 401k match, it's reassuring know that backing down to the match% is OK and possibly the wiser strategy. I've been making a concerted effort to boost lagging roth and hsa accounts to gain principal amounts that could eventually rival my 401k balance. I had always thought the highest contributing percentage SHOULD go to your largest balance amount to reach a critical mass of compounding interest as fast as possible. Now, it's all about hitting those maximum contribution limit amounts for each account type as fast as possible, year over year. Remember, you're never too old to stop learning.
Not a fan of rolling 401K to IRA when my 401K has a self directed feature already and hence I can do BACK DOOR ROTH IRA with out out dealing with the Pro Rata Rule with having a traditional IRA. If you don’t have a traditional IRA balance, you can then do backdoor Roth IRAs every year without pro rata rule issues
They over hyped the Roth employer match. Employers "can" offer the employer match as Roth but are not required. They can flat out refuse as the federal government is currently doing with the TSP
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collaborative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.
I've stuck with ‘’Julianne Iwersen Niemann” for about 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@@georgestone0123 thanks .. i found her page
BofA 401k plan has started allowing Roth 401(k) contributions and will allow us to convert the Traditional Portion to Roth. Super excited!
Thanks again Gentlemen. Love your approach to free-thinking involved with long-term investing.
J. Gold
You guys are AWESOME! Can’t thank you enough 👍🏾
Thank you for the amazing content!
As someone who's contributing well more than my company's 401k match, it's reassuring know that backing down to the match% is OK and possibly the wiser strategy. I've been making a concerted effort to boost lagging roth and hsa accounts to gain principal amounts that could eventually rival my 401k balance. I had always thought the highest contributing percentage SHOULD go to your largest balance amount to reach a critical mass of compounding interest as fast as possible. Now, it's all about hitting those maximum contribution limit amounts for each account type as fast as possible, year over year.
Remember, you're never too old to stop learning.
would 403 (B) be treated the same as 401 (k)
Is HR required to make to company match Roth if you ask them?
If I have a pre-IPO investment, is there any way to move it into a 401k? I am self employed 1120.
I have a self directed 401k with fidelity...?
Not a fan of rolling 401K to IRA when my 401K has a self directed feature already and hence I can do BACK DOOR ROTH IRA with out out dealing with the Pro Rata Rule with having a traditional IRA. If you don’t have a traditional IRA balance, you can then do backdoor Roth IRAs every year without pro rata rule issues
They over hyped the Roth employer match. Employers "can" offer the employer match as Roth but are not required. They can flat out refuse as the federal government is currently doing with the TSP
Most companies will not let you do a mega back door Roth at least if you r in healthcare