I Have $850 in a 401(k). What's the Best Way to Handle It After Retirement?

The point of this is not to say that $850,000 isn't enough. Rather, it's to emphasize that when you choose to retire is essential.If you retire today, you will have $850,000 in your 401(k) account. However, with this profile, you could work a little longer and keep allowing this portfolio to grow. Say you waited three more years and retired at age 70. With a mixed return of 8% (common for a mixed bond/stock portfolio) and $30,000 per year of additional contributions, you might have $1.16 million in savings. ...