Currently, I have \~$47k invested between my IRA, and 401k (equivalent but also a Roth).
Breakdown:
Roth IRA: 100% FXIAX $16k
Taxable: $5k
401k equivalent: $27k
My monthly contributions and projections allow for:
$1,000 (with match into Roth 401k equivalent)
$450 into taxable account a month
$625 for Roth IRA (lump sum it but for math it’s easier, I save like $500 a month and don’t notice it much every Jan when I lump sum)
97% into the S&P and 3% foreign
$51k in cash for house purchase in near future + traveling and IRA funds. Gives me 3.1% really like 1% after taxes in yield lol.
Demo:
I am 23 and live in a VHCOL, married no children. My after tax income is $76k and my wife’s is $80k, so roughly $155k after taxes a year.
My wife does $1,000 into her 403b alone, but don’t count hers. She also has $15k in her IRA.
Realistically expecting to hit $1m on my own in 15 years assuming 7% returns. I’ll be 38, but $1m is already becoming more common in society, so with inflation really \~$770k in today’s money.
Edit for some context: living in a VHCOL makes the number feels super inflated, I understand. No brag, no hate, just genuinely worried about the VHCOL and inflation.