Hey y'all,
So I know MMM has a philosophy about how Much is too much in 401k. He uses the example of $144,000 of 401k money upon retirement at age 30 that will grow into $622,000 inflation adjusted dollars.
Currently, my wife and I have about $40k in our collective 401k accounts, but between maxing out those and solid company matches, we may find ourselves with almost exactly that $144k or so in our 401ks by the time we are 32.
Like MMM, we have some Vanguard growth and we are also saving for a house. Does this mean that when we hit age 32 (in 4 years) and we have that $144k we should stop contributing to our 401k altogether? Or do we really need to get to $288,000 (two of us) before we have the "too much in 401k" amount that MMM is talking about.
In sum: how do we know do we stop contributing to our 401ks (age 60-90 money) and start using that extra money for the present? My company matches 10% of my base salary at the moment so that's nice.
Thanks!