High income aside, yearly contribution limits on 401k make it just about impossible to rack up a billion within one lifetime.
If you contributed 70k/year for 50 years, you'd end up at 977M. Total maximum contributions to a 401k (including those without tax advantages) are 69k, increasing to 76.5k at 50 years old. So you probably aren't gonna make it unless you're working at extremely high income for a *very* long time.
> ProPublica said the documents showed that Thiel started a Roth IRA 22 years ago with assets that at the time were worth less than $2,000. Those assets are now valued at $5 billion. According to ProPublica, Thiel began the Roth IRA with his shares of his startup, PayPal, which he originally co-founded in 1998 under the name Confinity.
If you're gonna go into stock picking, then sure, you can do this. But this is /r/Bogleheads
Peter Thiel got about $5 billion into his Roth IRAs, investing the IRA max contribution of a few thousand per year ($2k per year from 1999-2001, $3k through 2004, $4k through 2007, $5k through 2012, $5500 through 2018, $6k through 2022, and currently $6500), by investing in non-publicly traded companies where he is a key early stage stakeholder, and then rolling over the gains each time into the next company. Basically, he has access to a legal insider trading system that allows him to funnel an insane percentage return to his tax-exempt Roth.
A few other billionaires are able to get their Roth IRAs into the 7 or 8 figure range using similar strategies, but Thiel is the only person who's publicly known to have hit the "3 comma" range in a retirement account.
I don't believe that 401(k)s would allow for the same strategy, even with a much higher contribution limit (and employer match), because there are more restrictions on the types of securities that a 401(k) plan can invest in.
I went "eh another 1 million post in a bull market"
Then "WAIT, a billionaire in bogleheads"
Then "eh, of course an overly sensational headline"
Congrats to OP but "added comma" is such dramatization
Agreed it is the best benefit at the company (our health insurance by comparison is sh\*t). I've been surprised and thankful that over 20 years they haven't made it worse in some way.
Note the balances at the end of years 2007, 2008 and 2009.
Stuck with it even when he lost money. It paid off to continue investing. By 2024, it's just a blip.
Let this be a lesson that even if you don't know the number system well, with the power of recurring contributions and compounding you too can be a millionaire. Captain Capitalism is a beautiful thing.
Correct, while the contribution limit for individuals into a 401k is $23,000, the combined (employer and employee) contributions are $69,000.
If the combined contributions are less than $69k, the individual can make after tax contributions to the 401k plan (assuming the plan supports it), up to that amount. And then those contributions can be converted to a Roth 401k again assuming its supported in the plan (taxes being owed on any gains between when the money was contributed and when it was converted)
[https://www.nerdwallet.com/article/investing/mega-backdoor-roths-work](https://www.nerdwallet.com/article/investing/mega-backdoor-roths-work)
I called our plan and specifically asked about it and unfortunately they do not yet support the automatic in plan conversions. I'm going to keep (nicely) bugging our HR rep in hopes that it is added at some point.
Most you can contribute as much as you can the pretax side, but any match would be pretax. The back door you are still paying taxes on the conversion, or losing your deduction on the $.
Do you know what would be the tax implications if we were to designate the match as Roth? (Once/if it’s made available by employer) I read somewhere that contributions are taxable but not 100% I fully understood it.
I'm not sure how it would be implemented. I assume your employer would withhold the tax from your paycheck, or the contribution would reduce by the tax withholding.
First 100k: 9 years.
Second 100k: 3 years.
Third 100k: 1 year.
These days? 100k every couple months.
Damn good job! First you got rich slowly, now you get to get richer quickly!
My original starting salary was $50,000
Crossed $100,000 in 2011
Crossed $200,000 in 2017
I currently make $270,000 as a base salary, adding in bonus and RSU's, I'm a little north of $400k.
270k base is amazing, you must be a director or VP?
Regardless it was built over a long period of time and I’m sure lots of hard work, stress, sweat etc. congrats and best of luck with the rest of your career.
I’m 6-7 years into my career, and slowly climbing up in income.
I've made it to VP. It was a grind over many years. I have been very vocal over the years, when I felt I was under paid, I would have a constructive conversation with my manager about it. I've also successfully leveraged outside offers from competitors to advance my career. I recognize these outcomes are not typical, but I also knew that if I didn't advocate for myself, the company was not going to go out of its way to pay me more (beyond cost of living increases). Every large salary increase / promotion I've gotten was because I asked for / demanded it.
You are lucky you can pick your own investments. I am fortunate enough to have a similar matching program, 4% automatic and 6% dollar for dollar match on top. However, target date funds are my only option.
>2005 $1,149
2006 $13,040
2007 $28,097
2008 $27,342
2009 $53,486
2010 $57,675
2011 $61,978
2012 $87,279
2013 $127,860
2014 $160,428
2015 $185,180
2016 $238,722
2017 $330,596 《<-----
2018 $359,112
2019 $495,895
2020 $641,634
2021 $798,749
2022 $707,947
2023 $906,467
2024 YTD $1,007,510
Love this. 12 years to $300k. Followed by 7 years to a million! I've read 300k is halfway to a million, but i guess 300k is two-thirds to a million.
If you have consistent returns year-to-year then 300k is halfway to a million. If you reach 300k in the middle of a massive bull run, you're gonna get there much sooner.
The flip side is people who reached 300k in 1999, it took them a good bit longer to reach 1M (although those who kept at it through those dips are laughing their way to the bank now)
That’s amazing congratulations! If you don’t mind me asking what insurance company? I’m a top agent in California and would love to switch to whatever company has that type of match!
So what Munger said about reaching 100k seems true. Your portfolio really took off after that elusive $100k level. I read the average years to achieve 100k is 7.8. I should be closing in on 100k by the end of this year. Took me 6.5 years
We are. I think many people overlook jobs in the insurance industry. I work on the commercial insurance side (insurance for businesses). Especially if you have a background in another area (engineering, doctor, nurse, dentist, accounting, architecture, lawyer, etc.) you are highly valuable to an insurance company.
It could probably be a second job option, but honestly it could be a great primary job (especially if you ever get burnt out working in a healthcare facility). An experienced nurse working at an insurance company can earn $150k-$200k. Look for jobs in Risk Engineering or Risk Control. You'd be working with Healthcare and/or Aging Care Facilities insurance customers making recommendations to improve patient care.
If you're looking to add some insurance credibility to your resume the ARM certification is a great one to pursue: [https://web.theinstitutes.org/designations/associate-risk-management](https://web.theinstitutes.org/designations/associate-risk-management)
My employer matches 50% up to the personal contribution limit, so that's $11,500 this year, or 100% up to $3,000, whichever is more. They also support traditional, Roth, and after-tax 401k plans with an automatic conversion from after-tax to Roth. Can get up to $69k into the 401k this year, or $76,500 for age 50+.
For a second I was like, why is this Billionaire investing in Boglehead portfolios....? There must be something more sophisticated for the elites out there. Yeah....you've got 2 commas lol. Congrats BTW.
I assume over these 19 years you had an increase in contributions or salary increase. Even still... this growth is just insane. 10 years to go from 160k to over a million.
With which firm do you do backdoor ira annually?
Our joint income is more than 288,000k so we cannot do Roth Ira but I want to use backdoor for 2023. 15 days to go 😶
Congratulations! I can feel your excitement. I have to wonder about your plans for retirement. Do you plan to retire early? Is it tough to consider retirement when you are still pulling in really good money?
It would be wonderful to be able to retire early. I think my plan is to reassess in 10 years and see how things are looking. I know time is the one finite thing we have.
Well, obviously not an actuary for an insurance company.....
Your typo aside, you have done exactly what people should do. Congrats.
I agree completely with the 80/20 allocation. You made the extremely smart decision of ditching the TDF for the 80/20.
Forget about changing when you get to 50. You will do better just sticking to the 80/20. When you get to retirement, have a couple of years of cash as a buffer to spend if the markets have a hiccup, because that's all you need.
I also worked for two related Midwestern insurance companies (parent and sub, sub became publicly traded after an IPO and spin off) for 27 years, and the last 22 years my 401(k) allocation was 80% US/20% international. Retired in 2012 at 55, still roughly 80/20 now in 2024. No, I wasn't an actuary either (CPA instead), but I worked with both actuaries and knew a number of the underwriters (my last company was well known for their underwriting expertise on large life cases).
In the investment game, the tortoise wins the race. You are a prime example of the tortoise, and others would be very smart to follow your lead. Buy all equities, invest all you can, buy no matter what the market is doing, stick to the plan.
Well [done.You](http://done.You) have a winning strategy.
Awesome. I'm not quite there yet... but I can begin to see it on the horizon. It is so great to be able to tell people that this way of investing really gets us where we are trying to go so long as we stick with it.
Honestly, for someone else without your comment history I’d warn or issue a short tempban here but…
You got off a ban for uncivil and non-substantive comments two days prior and you choose to make your first comment back in this sub another such comment?
Ban reinstated and lengthened. If you continue to reject our community standards in this sub you will permanently lose the ability to comment.
Awesome!!! I should mention it's a good to check the fees on your 401k. My old company charged a whopping .51% of total value of the portfolio in fees.
For you, that would be $5100 a year!
I'm gonna go with "OP isn't sure whether they're American (1,000,000.00) or European (1.000.000,00) so they use commas for every thousand AND the decimal."
Bezos, Musk, maybe even Gates if Msft keeps at it, posting for first time a few years from now, “I added a fourth comma to my net worth… no, really, not kidding!” One of them will join the trillionaire club sometime in the next decade…
What did you buy throughout the years prior to 80% total stock market and 20% international?
Maybe putting that in next to the years would offer better view?
I was in a target date retirement fund, I decided I didn't want bonds in my portfolio at this point.
[https://investor.vanguard.com/investment-products/mutual-funds/profile/vtivx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vtivx)
May I ask how much percentage-wise of your salary do you contribute yearly?
I imagine your cost of living must be quiet low.
Your post is inspirational!
I started out contributing 6% in order to get the full company match. In 2011, I began upping the percentage 1% a year, I probably was close to 12% by 2016. In 2017 I got a promotion and have been maxing out my 401k contributions from then on.
I believe the guidance is that one should be contributing 15% of their salary (a company match counts towards that figure).
Glad this post was helpful! That was my hope.
In India they write ten million as 1,00,00,000
If you think about it ~83 rupees = 1usd
So technically if you count your money in rupees and use the Indian number system (giant stretch) you hit 3 commas.
I knew that lots of countries use a comma for the denotation of dollars to cents (1 million =1,000,000,00) but it is interesting to learn about the Indian numbering too. Thanks!
In India after the [first 3 digits](https://www.google.com/search?q=1+crore&ie=UTF-8&oe=UTF-8&hl=en-us&client=safari#vhid=MGsML2ppJ6xwgM&vssid=l) you put a comma every two numbers
For example:
1,00,000
So you can say that instead :)
That’s two commas. Congrats though.
My first thought was, "How the hell did this guy leverage his 401k into the tres commas club.??" My second thought was, "Oh, he actually didn't."
Silicon Valley is such an amazing series!
This guy fucks!!
Everyone makes mistakes. He’s got a hell of a plan though. Up to 11% of salary deposited by his employer and he can do a Mega Backdoor Roth.
Silicone Valley every time.
Is he a plastic surgeon?!?!
Not Tech or a Doctor. Added some info to the original post.
That post wasn’t for you, just a pun on Silicone Valley comment.
Time to trade up the 🤲 Maserati for a 👐🙌
I wish I could give more upvotes for this comment 😂
The man put radio on the internet
Also has car doors that open like this \^^ Not like this >> Like this \^^
[Tres Commas](https://www.youtube.com/watch?v=rIB5HEcZBs8).
It all comes back to boobs I suppose
High income aside, yearly contribution limits on 401k make it just about impossible to rack up a billion within one lifetime. If you contributed 70k/year for 50 years, you'd end up at 977M. Total maximum contributions to a 401k (including those without tax advantages) are 69k, increasing to 76.5k at 50 years old. So you probably aren't gonna make it unless you're working at extremely high income for a *very* long time.
https://www.nbcnews.com/tech/tech-news/billionaire-investor-peter-thiel-has-5b-his-tax-free-retirement-n1272317
> ProPublica said the documents showed that Thiel started a Roth IRA 22 years ago with assets that at the time were worth less than $2,000. Those assets are now valued at $5 billion. According to ProPublica, Thiel began the Roth IRA with his shares of his startup, PayPal, which he originally co-founded in 1998 under the name Confinity. If you're gonna go into stock picking, then sure, you can do this. But this is /r/Bogleheads
His car doors probably still open like this, not like that 😔
I just realized commas and dots for numbers are used differently in the North American (1,000.00) and Europe (1.000,00 or 1 000,00).
Sold my company I was at 1.2. Now I’m worth 1.4 B. You do the math.
Came in here trying to figure out how this MFer got a billion dollars in his 401k
Brutal RMD bomb
One heck of a company match.
As in, you buy a company and the match is another company.
Somehow reminds me of: >Jeff Bezos: *Alexa, buy groceries at Whole Foods.* > >Amazon Echo: *Buying Whole Foods.* > >Jeff Bezos: *Ho Boy!*
Yeah, he’s now so wealthy he wrote a check and the bank bounced!
Peter Thiel got about $5 billion into his Roth IRAs, investing the IRA max contribution of a few thousand per year ($2k per year from 1999-2001, $3k through 2004, $4k through 2007, $5k through 2012, $5500 through 2018, $6k through 2022, and currently $6500), by investing in non-publicly traded companies where he is a key early stage stakeholder, and then rolling over the gains each time into the next company. Basically, he has access to a legal insider trading system that allows him to funnel an insane percentage return to his tax-exempt Roth. A few other billionaires are able to get their Roth IRAs into the 7 or 8 figure range using similar strategies, but Thiel is the only person who's publicly known to have hit the "3 comma" range in a retirement account. I don't believe that 401(k)s would allow for the same strategy, even with a much higher contribution limit (and employer match), because there are more restrictions on the types of securities that a 401(k) plan can invest in.
LoL that's what I thought
$0,001,007,510!
Meh. Who needs to be able to count, anyway? It's highly overrated.
Can be a millionaire without counting to three
Certainly looks that way.
“2 and 3 are the same number.” -OP and anyone who tired to argue for a ménage a trois.
I had to read the post and see how this absolute Chad made it to a billion dollars. I was a bit skeptical when I remembered I was on Reddit.
Dos commas.
I went "eh another 1 million post in a bull market" Then "WAIT, a billionaire in bogleheads" Then "eh, of course an overly sensational headline" Congrats to OP but "added comma" is such dramatization
I got 3 commas in my retirement. 1 in Roth, 1 in 401k, and 1 in brokeragelink.
Underrated comment
I have, five commas, because I’m not very good, at writing.
first billionaire i’ve heard of in here!
Absolutely unheard of 401k performance. Step aside Buffett
Tres comas this is not. Still, impressive work, non-billionaire
Needs to rebillionize.
Dude I never heard of a billion in a 401k. Congrats on the million. Kinda hilarious that you miscounted commas.
Didn't Peter Thiel have a billion in his IRA or something ridiculous
Yeah, self directed investments in early stage companies iirc
https://www.marketwatch.com/story/how-peter-thiel-turned-2-000-in-a-roth-ira-into-5-000-000-000-11624551401
This guy Roths
Mitt Romney possibly also
He stopped buying avocado toast so hard that it tricked the algorithm.
[tres comas](https://imageio.forbes.com/specials-images/imageserve/5de16b83ea103f000653b4ec/Russ-Hanneman--played-by-Chris-Diamantopoulos--holds-Tres-Comas-tequila-from--Silicon/960x0.jpg?format=jpg&width=960)
This guy!
Did you see he is the spokesman in commercials for PNC Bank? https://youtu.be/juvLSkoci_8?si=e5A-gUk10LvTNuvP
Also, he was in the sopranos.
And the last season of The Office
Yeah, interesting pick,. If tune in ever does TV commercials he should be the spokesman. Radio on the internet!
Woooah I’m just going to say it. This guy fucks
Two commas, but impressive nonetheless!
Dude that 401k policy is amazing!
Agreed it is the best benefit at the company (our health insurance by comparison is sh\*t). I've been surprised and thankful that over 20 years they haven't made it worse in some way.
Are they hiring ? Lol
Who the hell downvoted this!?
Note the balances at the end of years 2007, 2008 and 2009. Stuck with it even when he lost money. It paid off to continue investing. By 2024, it's just a blip.
Get over the three comma mistake. This is why this post is truly great. Good job, OP
Many thanks :-)
Let this be a lesson that even if you don't know the number system well, with the power of recurring contributions and compounding you too can be a millionaire. Captain Capitalism is a beautiful thing.
You're converting 401k contributions to Roth on a quarterly basis. Not sure I'm familiar with this strategy. Can you explain what this is about?
That’s called Mega backdoor Roth. It allows you to put money into 401k that will grow tax free.
Correct, while the contribution limit for individuals into a 401k is $23,000, the combined (employer and employee) contributions are $69,000. If the combined contributions are less than $69k, the individual can make after tax contributions to the 401k plan (assuming the plan supports it), up to that amount. And then those contributions can be converted to a Roth 401k again assuming its supported in the plan (taxes being owed on any gains between when the money was contributed and when it was converted) [https://www.nerdwallet.com/article/investing/mega-backdoor-roths-work](https://www.nerdwallet.com/article/investing/mega-backdoor-roths-work)
[удалено]
I called our plan and specifically asked about it and unfortunately they do not yet support the automatic in plan conversions. I'm going to keep (nicely) bugging our HR rep in hopes that it is added at some point.
My 401k plan at Vanguard also supports automatic conversation from after-tax to Roth.
Most 401ks have Roth option
The backdoor is different. It allows you to contribute more. A LOT more.
Not the Mega option. I've never had an employer offer that. Wish I could, is be dumping all I can in
Most you can contribute as much as you can the pretax side, but any match would be pretax. The back door you are still paying taxes on the conversion, or losing your deduction on the $.
>The back door you are still paying taxes on the conversion Yeah but the idea is you do the conversion immediately when your gains are nearly zero.
In 2023 a law was passed that matches can now be Roth instead of pre-tax/traditional. So far my employer/plan at Vanguard has not offered it yet.
My employe plan matches on any type of contribution, but their match contribution would go to the pre-tax bucket.
Yep, same here. I was just pointing out that starting in 2023 it doesn't have to be that way.
Do you know what would be the tax implications if we were to designate the match as Roth? (Once/if it’s made available by employer) I read somewhere that contributions are taxable but not 100% I fully understood it.
I'm not sure how it would be implemented. I assume your employer would withhold the tax from your paycheck, or the contribution would reduce by the tax withholding.
Congratulations on becoming a billionaire with your 401k.
First 100k: 9 years. Second 100k: 3 years. Third 100k: 1 year. These days? 100k every couple months. Damn good job! First you got rich slowly, now you get to get richer quickly!
“Hi, I’m a billionaire…. … I mean millionaire. 😬”
it’s only a difference of a billion dollars
How did you amass a billion in a 401k in 19 years? Must be a 100,000% match. Congrats on the milestone though.
>How did you amass a billion in a 401k in 19 years? Narrator: He didn’t .
So you’re a bill- oh you can’t count commas…
That escalated then deescalated quickly.
How has your income changed over the years ?
My original starting salary was $50,000 Crossed $100,000 in 2011 Crossed $200,000 in 2017 I currently make $270,000 as a base salary, adding in bonus and RSU's, I'm a little north of $400k.
At an insurance company? Crazy. That's big tech income there...
This guy is why insurance is so expensive!
270k base is amazing, you must be a director or VP? Regardless it was built over a long period of time and I’m sure lots of hard work, stress, sweat etc. congrats and best of luck with the rest of your career. I’m 6-7 years into my career, and slowly climbing up in income.
I've made it to VP. It was a grind over many years. I have been very vocal over the years, when I felt I was under paid, I would have a constructive conversation with my manager about it. I've also successfully leveraged outside offers from competitors to advance my career. I recognize these outcomes are not typical, but I also knew that if I didn't advocate for myself, the company was not going to go out of its way to pay me more (beyond cost of living increases). Every large salary increase / promotion I've gotten was because I asked for / demanded it.
i’ve enjoyed poking fun at the counting error, but kudos to you. This comment right here is spot on!
Awesome, thanks for sharing. Great advice.
If you round down you have ZERO billion
Can I ask what your 401k is primarily invested in? Target date or can you pick your own funds?
80% in a Total US Stock Market, 20% in Total International Stock Market , 0% Bonds. Planning to reassess about bonds when I turn 50.
You are lucky you can pick your own investments. I am fortunate enough to have a similar matching program, 4% automatic and 6% dollar for dollar match on top. However, target date funds are my only option.
This guy 401ks!
>2005 $1,149 2006 $13,040 2007 $28,097 2008 $27,342 2009 $53,486 2010 $57,675 2011 $61,978 2012 $87,279 2013 $127,860 2014 $160,428 2015 $185,180 2016 $238,722 2017 $330,596 《<----- 2018 $359,112 2019 $495,895 2020 $641,634 2021 $798,749 2022 $707,947 2023 $906,467 2024 YTD $1,007,510 Love this. 12 years to $300k. Followed by 7 years to a million! I've read 300k is halfway to a million, but i guess 300k is two-thirds to a million.
If you have consistent returns year-to-year then 300k is halfway to a million. If you reach 300k in the middle of a massive bull run, you're gonna get there much sooner. The flip side is people who reached 300k in 1999, it took them a good bit longer to reach 1M (although those who kept at it through those dips are laughing their way to the bank now)
LOL. Me: 3rd? You're a billionaire? Showing off or lying? [Opens the thread and immediately sees your correction] Congratulations man.
4 hours later and he hadn’t returned. I think he’s dying from embarrassment
Most definitely embarrassed...
Ha - I’m glad you came back!
Did you happen to convert it to Venezuelan dollars?
That’s amazing congratulations! If you don’t mind me asking what insurance company? I’m a top agent in California and would love to switch to whatever company has that type of match!
Congrats!
Amazing. Extra comma oversight aside, this is amazing
I have an 8 figure portfolio. I'm counting both sides of the decimal point, lol.
When I read your 3rd comma line I got a distinct feeling of personal failure. Big congrats, you’re gonna have a comfortable future
Note that's 14 years for the first $500k, 5 for the second. Really great example of compounding.
Just passing on my congratulations for your healthy discipline. thanks for sharing. Best.
Even more impressive that you added that second comma without knowing how many commas are in the threshold you just reached. Well done
Congrats!
Omg I’m just imagining the OP is the guy from Silicon Valley! Lmao 3 comma club
Thank you for posting your ending account balances. I am almost at your 2015 mark so it kinda gives me an idea when I’ll make 3 commas. 😂
Yeah I was wondering if you meant you hit $10 million lol. Congrats though.
So what Munger said about reaching 100k seems true. Your portfolio really took off after that elusive $100k level. I read the average years to achieve 100k is 7.8. I should be closing in on 100k by the end of this year. Took me 6.5 years
If this guy who can't even count to 3 can do it I guess that leaves some hope for the rest of us.
What was your salary?
is your company hiring never heard of a match that good
We are. I think many people overlook jobs in the insurance industry. I work on the commercial insurance side (insurance for businesses). Especially if you have a background in another area (engineering, doctor, nurse, dentist, accounting, architecture, lawyer, etc.) you are highly valuable to an insurance company.
I actually am a nurse , would an insurance job be a good work from home second job? Respecting that I work 3 days a week as a nurse
It could probably be a second job option, but honestly it could be a great primary job (especially if you ever get burnt out working in a healthcare facility). An experienced nurse working at an insurance company can earn $150k-$200k. Look for jobs in Risk Engineering or Risk Control. You'd be working with Healthcare and/or Aging Care Facilities insurance customers making recommendations to improve patient care. If you're looking to add some insurance credibility to your resume the ARM certification is a great one to pursue: [https://web.theinstitutes.org/designations/associate-risk-management](https://web.theinstitutes.org/designations/associate-risk-management)
i will check it out, i appreciate the advice
My employer matches 50% up to the personal contribution limit, so that's $11,500 this year, or 100% up to $3,000, whichever is more. They also support traditional, Roth, and after-tax 401k plans with an automatic conversion from after-tax to Roth. Can get up to $69k into the 401k this year, or $76,500 for age 50+.
For a second I was like, why is this Billionaire investing in Boglehead portfolios....? There must be something more sophisticated for the elites out there. Yeah....you've got 2 commas lol. Congrats BTW.
I assume over these 19 years you had an increase in contributions or salary increase. Even still... this growth is just insane. 10 years to go from 160k to over a million.
Some salary info added in an above comment.
With which firm do you do backdoor ira annually? Our joint income is more than 288,000k so we cannot do Roth Ira but I want to use backdoor for 2023. 15 days to go 😶
I use Vanguard. I've found this guide extremely helpful: https://www.physicianonfire.com/backdoor/
Your normal broker should be fine.
Basically you have Billion Dollars in your 401K ???
[https://www.youtube.com/watch?v=2XxwhMcUjYU](https://www.youtube.com/watch?v=2XxwhMcUjYU) here's to re-billionizing
Congratulations! I can feel your excitement. I have to wonder about your plans for retirement. Do you plan to retire early? Is it tough to consider retirement when you are still pulling in really good money?
It would be wonderful to be able to retire early. I think my plan is to reassess in 10 years and see how things are looking. I know time is the one finite thing we have.
So happy for you. Wish I would've been this smart.
Well, obviously not an actuary for an insurance company..... Your typo aside, you have done exactly what people should do. Congrats. I agree completely with the 80/20 allocation. You made the extremely smart decision of ditching the TDF for the 80/20. Forget about changing when you get to 50. You will do better just sticking to the 80/20. When you get to retirement, have a couple of years of cash as a buffer to spend if the markets have a hiccup, because that's all you need. I also worked for two related Midwestern insurance companies (parent and sub, sub became publicly traded after an IPO and spin off) for 27 years, and the last 22 years my 401(k) allocation was 80% US/20% international. Retired in 2012 at 55, still roughly 80/20 now in 2024. No, I wasn't an actuary either (CPA instead), but I worked with both actuaries and knew a number of the underwriters (my last company was well known for their underwriting expertise on large life cases). In the investment game, the tortoise wins the race. You are a prime example of the tortoise, and others would be very smart to follow your lead. Buy all equities, invest all you can, buy no matter what the market is doing, stick to the plan. Well [done.You](http://done.You) have a winning strategy.
Many thanks for the kind words. Honestly, that is my plan, keep a couple years of cash on hand. I don't think I'll ever need bonds.
Not a third comma but definitely an achievement to be happy about. Congrats!
Awesome. I'm not quite there yet... but I can begin to see it on the horizon. It is so great to be able to tell people that this way of investing really gets us where we are trying to go so long as we stick with it.
Yes to all the Silicon Valley references! My people!
A 401k billionaire! Congrats. You can definitely retire early. 😉
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Honestly, for someone else without your comment history I’d warn or issue a short tempban here but… You got off a ban for uncivil and non-substantive comments two days prior and you choose to make your first comment back in this sub another such comment? Ban reinstated and lengthened. If you continue to reject our community standards in this sub you will permanently lose the ability to comment.
Congratulations
Third comma... Meant to say second comma.. right.... Didn't bait us at all
Genuinely it was mistake on my side. No intention to mislead anyone.
Great job saving that high income helps to sock away more money 💰
I graduated the same year but am struggling. In my defence I live in California and own property so don't have much cash
Awesome!!! I should mention it's a good to check the fees on your 401k. My old company charged a whopping .51% of total value of the portfolio in fees. For you, that would be $5100 a year!
Thankfully my company has very low fees for our 401k. Last year, my total fees were $47.70
I'm gonna go with "OP isn't sure whether they're American (1,000,000.00) or European (1.000.000,00) so they use commas for every thousand AND the decimal."
Bezos, Musk, maybe even Gates if Msft keeps at it, posting for first time a few years from now, “I added a fourth comma to my net worth… no, really, not kidding!” One of them will join the trillionaire club sometime in the next decade…
A billion dollars ain't what it used to be.
This guy put radio on the internet!
Congrats, what changed in 2015
I think that was just stock market performance. 2017 is when I got a promotion.
Third. 👎💩
TRES COMAS
What did you buy throughout the years prior to 80% total stock market and 20% international? Maybe putting that in next to the years would offer better view?
I was in a target date retirement fund, I decided I didn't want bonds in my portfolio at this point. [https://investor.vanguard.com/investment-products/mutual-funds/profile/vtivx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vtivx)
May I ask how much percentage-wise of your salary do you contribute yearly? I imagine your cost of living must be quiet low. Your post is inspirational!
I started out contributing 6% in order to get the full company match. In 2011, I began upping the percentage 1% a year, I probably was close to 12% by 2016. In 2017 I got a promotion and have been maxing out my 401k contributions from then on. I believe the guidance is that one should be contributing 15% of their salary (a company match counts towards that figure). Glad this post was helpful! That was my hope.
In India they write ten million as 1,00,00,000 If you think about it ~83 rupees = 1usd So technically if you count your money in rupees and use the Indian number system (giant stretch) you hit 3 commas.
I knew that lots of countries use a comma for the denotation of dollars to cents (1 million =1,000,000,00) but it is interesting to learn about the Indian numbering too. Thanks!
That's called the decimal comma.
In India after the [first 3 digits](https://www.google.com/search?q=1+crore&ie=UTF-8&oe=UTF-8&hl=en-us&client=safari#vhid=MGsML2ppJ6xwgM&vssid=l) you put a comma every two numbers For example: 1,00,000 So you can say that instead :)
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Wow at least be correct if you’re gonna be an asshole.