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Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: cashstasherat23 on January 28, 2015, 09:37:22 AM

Title: Ridiculous 401k
Post by: cashstasherat23 on January 28, 2015, 09:37:22 AM
Was checking in on my 401k this morning and saw this gem:

(http://i28.photobucket.com/albums/c243/XxholdmecloserxX/Untitled.png)

Apparently when I retire, I will be spending $4,761 a month, and it will run out when I hit 110 years old! Unless they have figured out a way to make people live forever, I think I am still on the right track :)

Not sure where they got these numbers, as I have only been contributing to my 401K for less than a year (23 yrs old), and don't even have $4K in there yet, but it sure gave me a good laugh!
Title: Re: Ridiculous 401k
Post by: slugline on January 28, 2015, 09:41:37 AM
That's pretty funny. What firm is administering your 401K? Is it one of the big names like Vanguard, Fidelity, etc.?
Title: Re: Ridiculous 401k
Post by: cashstasherat23 on January 28, 2015, 09:50:20 AM
It's with Principal, although I am trying to learn more about Vanguard and looking into investing some of the savings I have in a Vanguard account.
Title: Re: Ridiculous 401k
Post by: frugalnacho on January 28, 2015, 10:12:32 AM
I'm guessing they are thinking you will keep contributing at the current rate for another 42 years until normal retirement age of 65? 
Title: Re: Ridiculous 401k
Post by: trailrated on January 28, 2015, 10:31:48 AM
Hate to break it to you, but you will never be able to retire... $312 short per month is nothing to laugh about ;)
Title: Re: Ridiculous 401k
Post by: cashstasherat23 on January 28, 2015, 10:48:59 AM
Hate to break it to you, but you will never be able to retire... $312 short per month is nothing to laugh about ;)

Might as well just give up now and go buy a new SUV! :)
Title: Re: Ridiculous 401k
Post by: Breck on January 28, 2015, 11:07:08 AM
Makes me think of this ad:
http://adsoftheworld.com/sites/default/files/styles/media_retina/public/images/timberlandretire.jpg?itok=PZVyt03a (http://adsoftheworld.com/sites/default/files/styles/media_retina/public/images/timberlandretire.jpg?itok=PZVyt03a)
Title: Re: Ridiculous 401k
Post by: Gone Fishing on January 28, 2015, 12:23:24 PM
If you are 23 now you might just make it to 110!  At one point my 401(k) statement estimated I would have $28 million at 65!  Hope it is all true! 
Title: Re: Ridiculous 401k
Post by: Pooperman on January 28, 2015, 02:54:05 PM
Mine (through Transamerica) is configurable. I input my other savings with a goal of $30k/yr (in today's dollars). Based on what I'm contributing now, it (through monte carlo simulations) says I will make my goal to retire by 40.