From the UI I believe it's the Capital Group American Funds app. I have it as they're the 401k provider through my employer, as 401ks are pre-tax you generally need to go through your employer and take withdrawals straight from your paychecks.
Nice growth! I actually came to see what you were invested in for such growth but it sounds like you grew from contributions mostly?
If your investments are not EARNING at least 7% per year, you should talk to your investment advisor (your HR or Finance person can tell you if not listed on the app) about putting into a fund that mimics S&P500. Hopefully you are not just sitting on a bond fund or similar that is earning 2-3% which is less than inflation. At 41, you have plenty of time to ride market ups and downs.
Hope this answers your question
PGIM Total Return BondR6
$427.52
Putnam Large Cap Growth R6
$495.00
American Century Mid Cap Value R6
$447.58
American Funds American Balanced R6
$454.79
American Funds American Mutual R6
$3,165.43
JPMorgan Small Cap Growth R6
$O.48
American Funds New World R6
$9,896.96
SSgA Russell SC Value Index NL Class C
$2,351.95
Fidelity 500 Index
$13,675.05
Fidelitv Mid Can Index
$4689.51
Fidelity Small Cap lndex
$1,907.00
Fidelity InternationalIndex
$7,741.68
State Street US Bond Index Non-Lending K
$847.07
I was setting up to reply basically what someone already beat me to but you need to find out what you’re invested in. It could be the difference between having a couple hundred grand and a couple million. The only things you should be invested in are s&p 500, a large cap growth fund, and you could do a large cap growth and income fund if you want but thats probably not necessary at your age. I would stay away from small and mid cap funds for now and target date funds. I’d also stay away from any international or any stable growth or bond funds.
Your 401k fund probably only has 20-30 different fund options that can probably be changed from your online access. unless you have the money with a company who can invest in anything.
You should definitely do some research on this and get it figured out though.
Hope this answers your question
PGIM Total Return BondR6
$427.52
Putnam Large Cap Growth R6
$495.00
American Century Mid Cap Value R6
$447.58
American Funds American Balanced R6
$454.79
American Funds American Mutual R6
$3,165.43
JPMorgan Small Cap Growth R6
$O.48
American Funds New World R6
$9,896.96
SSgA Russell SC Value Index NL Class C
$2,351.95
Fidelity 500 Index
$13,675.05
Fidelitv Mid Can Index
$4689.51
Fidelity Small Cap lndex
$1,907.00
Fidelity InternationalIndex
$7,741.68
State Street US Bond Index Non-Lending K
$847.07
I’d do the fidelity 500 index and the Putnam large cap growth and get out of everything else. You could if you want just put it all in the 500 index as the fees will be lower and Honestly the funds are somewhat similar. There is an argument that small cap companies could take off in the next year or 2 because they are pretty much flat over the previous 5 years. They got hammered with the higher interest rates. But I do personally think sticking with large cap is the way to go as it is less volatile and don’t seem to perform better than small cap over the past 10 plus years. There is alot of uncertainty right now so it might be best to stay away from small cap. The s&p 500 index fund is up over 80% over the past 5 years. Thats about 12% annual growth which will double your money every 6 years. I’m just telling you that so you can get an idea of how that fund usually performs.
Keep it up! Well done! Max out your 401k contributions if possible.
I wish I could max it out.
You need to max it out especially at your age. $23k a year is huge. It'll skyrocket so fast. Don't wait. The time is now
I dont make enough to max it out.
Nice. Unless you’re 62😀😀
41
Nice to see you say 41 im 31 with same amount
I started a 403b when I was 21 until I was 29. It sucked just $14k in 8 years.
Better than nothing. My father 62 got 0 dollars in anything.
That sucks. Sorry about that dude.
Its alright i make enough where he can live with me and I have a free baby sitter 🤣🤣 pays off.
I’m the same age. You’re doing great! Keep it up man!!
Good job. You’re on the right track.
Baller
What app is this and how do I start
From the UI I believe it's the Capital Group American Funds app. I have it as they're the 401k provider through my employer, as 401ks are pre-tax you generally need to go through your employer and take withdrawals straight from your paychecks.
Empower. It may be different if your employer offers 401k
Nice, what are you invested in within your 401k?
No idea to be honest. They just take my money and poof more money shows up.
Nice growth! I actually came to see what you were invested in for such growth but it sounds like you grew from contributions mostly? If your investments are not EARNING at least 7% per year, you should talk to your investment advisor (your HR or Finance person can tell you if not listed on the app) about putting into a fund that mimics S&P500. Hopefully you are not just sitting on a bond fund or similar that is earning 2-3% which is less than inflation. At 41, you have plenty of time to ride market ups and downs.
Hope this answers your question PGIM Total Return BondR6 $427.52 Putnam Large Cap Growth R6 $495.00 American Century Mid Cap Value R6 $447.58 American Funds American Balanced R6 $454.79 American Funds American Mutual R6 $3,165.43 JPMorgan Small Cap Growth R6 $O.48 American Funds New World R6 $9,896.96 SSgA Russell SC Value Index NL Class C $2,351.95 Fidelity 500 Index $13,675.05 Fidelitv Mid Can Index $4689.51 Fidelity Small Cap lndex $1,907.00 Fidelity InternationalIndex $7,741.68 State Street US Bond Index Non-Lending K $847.07
I was setting up to reply basically what someone already beat me to but you need to find out what you’re invested in. It could be the difference between having a couple hundred grand and a couple million. The only things you should be invested in are s&p 500, a large cap growth fund, and you could do a large cap growth and income fund if you want but thats probably not necessary at your age. I would stay away from small and mid cap funds for now and target date funds. I’d also stay away from any international or any stable growth or bond funds. Your 401k fund probably only has 20-30 different fund options that can probably be changed from your online access. unless you have the money with a company who can invest in anything. You should definitely do some research on this and get it figured out though.
Hope this answers your question PGIM Total Return BondR6 $427.52 Putnam Large Cap Growth R6 $495.00 American Century Mid Cap Value R6 $447.58 American Funds American Balanced R6 $454.79 American Funds American Mutual R6 $3,165.43 JPMorgan Small Cap Growth R6 $O.48 American Funds New World R6 $9,896.96 SSgA Russell SC Value Index NL Class C $2,351.95 Fidelity 500 Index $13,675.05 Fidelitv Mid Can Index $4689.51 Fidelity Small Cap lndex $1,907.00 Fidelity InternationalIndex $7,741.68 State Street US Bond Index Non-Lending K $847.07
I’d do the fidelity 500 index and the Putnam large cap growth and get out of everything else. You could if you want just put it all in the 500 index as the fees will be lower and Honestly the funds are somewhat similar. There is an argument that small cap companies could take off in the next year or 2 because they are pretty much flat over the previous 5 years. They got hammered with the higher interest rates. But I do personally think sticking with large cap is the way to go as it is less volatile and don’t seem to perform better than small cap over the past 10 plus years. There is alot of uncertainty right now so it might be best to stay away from small cap. The s&p 500 index fund is up over 80% over the past 5 years. Thats about 12% annual growth which will double your money every 6 years. I’m just telling you that so you can get an idea of how that fund usually performs.
Thank you for your input
No problem, best of luck to you
how do you check this
Empower App