How to become a 401(k) millionaire

Fast Money Trader Karen Finerman on how to become a millionaire ahead of your retirement.

[alliemercy]

I am very happily retired and here's what I've observed so will be no shortage of people who will try very hard to be generous with your time, remember that your time is a precious asset and don't let them take advantage of there will also be no shortage of people offering unsolicited advise on how to be happy, let them know where to stick their than that, as long as you have money, retirement is great.

[JoeWilmoth-kw]

As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?

[BEAUTIFULDIANAFRANCIS]

To achieve a secure retirement, aiming to save at least 15% of your income in a 401(k) is advisable. Online tools can assist in calculating the best savings strategy for you, considering factors like age and income. Consistently saving this percentage can help build your retirement fund effectively, thanks to the benefits of compound interest.

[washablejunk]

So when I get a million the government takes half

[JRS-iqpz]

You will be a millionaire if you start at 20. By the time you retire.

[Tekniq]

Huh? Companies can contribute much more than 3%. My company does 6%.

[DedicatedMW]

You get there buy cashing out 20k and buy 4 bitcoin... Wait 5 years and boom your a multimillionaire

[horroRomantic]

Just S&P 500 indexed fund and forget about it. It will give you 8%~10% consistently. I am putting 26% (very close to max, unfortunately they only allow to invest in whole percentages) of my salary on my 401k.

[wan]

It’s not what you earn (to a degree), it’s what you spend.

[alib]

Most people should just invest in income producing real estate. Market is designed to fool most of the people most of the time 😉

[gordonadams]

And how many workers actually have company match available? I never came across one.

[waqashaleem]

Dont block your money for rest of your life . you might need tomorrow ! Who knows we get to live by 59 years ?

[asanchez]

Frontline did a great piece on 401k’s. Beware of 401k’s.

[pkownada]

In other news water is wet more at 11.

[thefuture]

Best way to become a millionaire using your 401k is to take a loan against it and buy BTC with it.

[kckuc]

I found it to be live within your means and stop falling for marketing

[joecool]

Do not contribute anymore than your company match, period.

[TheNORegretShow]

People are so stupid in these comments the same people that charge fast food and think a a new car is a good investment keep putting your money in Banks make sure you check my receipt when I leave Walmart because that will be your job when you're in your sixties

[mikem]

🙄 I have a roth 457 alot of plans have both options roth and traditional. Its what the plan and financial group offer

[jrm]

Some of the comments here are really ignorant