I have been looking forward to this, and it happened! My 401k plan topped $300,000!!!!
It had been getting close, then the market dropped heavily. But then the market crept slowly upward, and I surpassed $300k!
I guess the next target I would like to see would be maybe $333,333. Then I would have a 1/3 of a million dollars!
After that, maybe $400k.
The more money you have invested, the more money you earn. It’s because of compounding. I have all that money working for me! Someone might take 23 years to build their first million dollars, but the second million might take only 7 years.
If you don’t contribute to a 401k, I urge you to start, and keep increasing your contributions until you are maxed out. A 401k is the best vehicle for ordinary people to become wealthy!


401k:

Name Value
AF GROWTH FUND AMER $73,728.96
DREYFUS MID CAP INDEX $75,250.16
DREYFUS SM CAP STK $74,387.78
SPARTAN INTL INDEX $80,701.87
Total $304,068.77

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Posted by Rob in Getting Rich on April 24th, 2007 |