Anonymous board so curious what’s everyone’s 401k looking like
401k amount
Years of service
Any advice or tips for a newer >5 year employee
19 replies (most recent on top)
- 5 years, $620K in Chevron 401K. Should probably be above $700K if I didn't put $400K in short term investments expecting a crash. $300K in other previous company 401ks.
Down 10% from the Trump "rally"
Look up the FIRE movement - Mr. Money Mustache. Low cost index funds, max out IRA if eligible for deduction and 401k if you can.
If you do it right you could have 2-3 mil between brokerage and retirement in 15 years or less.
A lot depends on how you invest it. The range of results is nearly infinite.
@ljb, That's true, and everyone knows who's tall tales the media has been spinning 24/7.
xce: Reality speaks for itself, whereas bull$hit requires a 24/7 sell job.
Yea, @ytv+1w1YFFXj is 100% spot on, My 401k is cruisin', but the affordability of everything now is out of sight. I sure hope that turns around soon with the new guard. The destruction of the US economy will be over soon. Thank goodness and God bless. Good luck to everyone in the re-org. I hope I still have a job in 2025.
Ytc: Someone should have stayed awake in math class. Total inflation the last 4 years was under %20, whereas the S&P500 is up over %50.
401k is fine market wise, however the buying power of that is much lower than what it's growth would appear to be due to higher inflation as a result of the current admin's policies which is verifiable data. So if you factor in inflation, the net worth of most nest eggs has been relatively flat for the last several years compared to past markets. Hopefully that will change but I wouldn't bank on it and still have a backup plan.
Markets will definitely feel the pain under trumps tariffs. Hopefully he corrects course.
A major correction coming. The good times of the last several years are about to disappear. Expect growth going forward in 2025-2027 to be flat or a decline. If the planned policy are enacted there will be a recession.
Magnificent 7 is over inflated: Don't follow yesterdays leaders! After three years of rapid gains, a pull back is very likely based on historical data. Following the intial euphoria of investors expecting Trump tax cuts and deregulation, there will be a major correction late 2025 or early 2026 after industries start to realize just how disruptive broad -based tarrifs are to supply chain stalility (particularally after all the retaliation tarrifs start to be imposed on our exports). You have another half year to be aggrressve, and then look for bed rock stability (t-bills, utilities, health care, and domestic blue chips).
5 years, $315K.
If they give you anything in company stock convert it to cash or another investment as soon as you can.
Max out if you can and also take advantage of the 8% match since time is your friend at the moment. Stick to index funds (S&P, Dow etc.) with low cost.
$1.2mm with 13 years at CVX and 4 years prior at another operator I rolled over.
It’s at Fidelity.
If you can afford it, and if it meets your other cash needs (mortgage, car, or down payment etc) try to max out your 401k contribution. That, plus the company salary % match, really adds up over time.
Find a comfortable portfolio blend — but with your young (?) age, I’d suggest the bulk of funds in that broad S&P market index fund that chevron offers…the one with Microsoft, META, Apple etc ….. the typical s&p blend.
I also agree with the below poster. The CVX stock has been a real drag over the years…minus the run up in 2022(?). Perhaps do something else with that particular allocation. Good luck to you.
$350 million. 6 years at company and very aggressive investing
Magnificent 7 won’t steer u wrong. Don’t put a dollar into CVX