Comments on: $10,000,000 Individual Retirement Accounts and 401(k)s: Actually Possible? https://evergreensmallbusiness.com/ten-million-dollar-ira-accounts/ Actionable Insights from Small Business CPAs Mon, 01 Jul 2019 22:34:54 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Steve https://evergreensmallbusiness.com/ten-million-dollar-ira-accounts/#comment-3727 Thu, 27 Apr 2017 16:33:27 +0000 http://evergreensmallbusiness.com/?p=2891#comment-3727 In reply to Robert Anonforobviousreasons.

As I noted in the blog, there are scenarios where you can really push up the end result. But as you indicate in your comment, your story is very unusual. Especially if you were investing in traditional asset classes and not bearing tons of unsystematic risk. Using traditional asset classes and an orthodox asset allocation, I believe you only get to $10,000,000 if you start a 35 year savings program in 1982 and annually save about $55,000 a year… an amount that exceeds (slightly) what’s even available in the most generous pension plans. (BTW, in 1982, the maximum amount you could put into a SEP was not $50K-ish but $30K.)

]]> By: Robert Anonforobviousreasons https://evergreensmallbusiness.com/ten-million-dollar-ira-accounts/#comment-3721 Thu, 27 Apr 2017 01:32:20 +0000 http://evergreensmallbusiness.com/?p=2891#comment-3721 I started my 401K in 1985 when I was earning around $15,000 a year.
I retired in 2007 55 with $1,500,000 in my 401K and my salary had gotten to $70,000 my last year of employment.
I rolled my 401K into an IRA as soon as I retired.
I have converted a significant amount to my Roth, but I currently have over $7,000,000 in my IRA and fully expect to go over $10,000,000 in the near future and quite possibly a lot more.
It is all about a good plan where you can move the money around frequently among funds in a 401K. Admittedly, it takes quite a bit of effort and a strong stomach.
But when you roll it over into an IRA, you can push it all in on one stock at a time if that is what you think will work best.
Again, it takes a strong stomach and it also takes discipline to switch from frequent trades to long term hold for the stocks you believe will grow.
I know few achieve this level of success, but I am living proof – with a record of every trade I made.
The notion of a $10,000,000 IRA is possible.

]]> By: Jannie https://evergreensmallbusiness.com/ten-million-dollar-ira-accounts/#comment-3602 Thu, 13 Apr 2017 19:32:17 +0000 http://evergreensmallbusiness.com/?p=2891#comment-3602 Saved as a favorite, I actually enjoy your blog!

]]>