3 ms·
How long have you been at the third company? What kind of tax-deferred accounts allow $2M in deposits in less than 50 years?
by cimmanom 8y ago
How long have you been at the third company?
What kind of tax-deferred accounts allow $2M in deposits in less than 50 years?
- deanmoriarty 8y agoThat's about ~25 years if one is contributing ~25k a year (reasonable 3% match + 18k yearly limit) and the accounts are yielding a nominal 8%, which is not incredibly impressive (5% real give it or take). Make the nominal interest 10% (probably more similar to the actual returns in the past two decades) and we get there in ~20 years. Contribute more (e.g. backdoor roth and/or mega backdoor roth) and we get there much faster.