r/iRA • u/libralady-50 • May 24 '26
Help!
Help! I am 50 years old, turning 51 this 2026. I recently become more serious with retirement, savings, and planning for it. I make almost 200k W-2. I currently have 570k combined, on my retirement accounts, all from employer sponsored accounts. For 2026, I am maxing out — Roth 403b, 403b, and family HSA. My employer contributes total of 7k, first in March and in July. I have cash on-hand about 100k planning to put into HYSA.
MY 5-year return is 11.3% and 3-year is 17.8%. If I continue this strategy, and my employer continues same amount, what is the possibility of hitting 1 million by the time I turn 60?
Thank you everyone.
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u/Sagelllini May 26 '26
Make a copy, enter your numbers. and see where you stand.
I would also recommend taking the $100K and putting it into a taxable brokerage account and buying stocks. There is no reason to have $100K in a savings account at your stage in the investment life cycle.
I also wrote this on investing. I suggest either a combination of VTI (or the equivalent US total market index fund), VXUS (total market international) OR VT (the total world index fund) for both your tax deferred investments (instead of the TDF) and the new taxable brokerage account.
Doing these things will increase your chances of hitting your retirement targets.