Quote:
Originally Posted by simplepeddler
With the administration exploring a "cap" of 3 million on a 401K or retirement account.......how many you people will this affect?
I know back in the day guys where getting there.......
But is it reasonable that a guy can get there, to 3 million, in today's time?
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Im sure it's in reach of some long term employees. I guess it would have to do a lot on how you are invested???
I know when I started my 401K back in 2000 it seemed like it took forever to grow. Once you reach a 6 figure number your rate of growth picks up 2xs faster vs 5 figures (This is in my case for sure)
I'm sure you could figure an overall growth % per year and run numbers for 30 years..
I place 9% in my 4o1 and company matches 6% of that
But I'm not going to hit 3 Million in 30 years... unless the Market booms with some stupid numbers