How much money is in your 401 (k) or similar DC plan?

[Savonarola]

I had a conversation over lunch over our 401 (k).  I was amazed that one had nothing in his (his plan was "To sort things out in the next few years" ).  The other had $30,000 (though he's only 30, the first one is 41.)  I was curious how Languish stacked up.

I'm 41 and have $600,000 in my 401 (k).

[katmai]

A what?

[Berkut]

I think I have around $200k or so.

[Malthus]

The Canadian equivalent is the RRSP (just for kicks, here's a brief comparison: http://www.moneysmartsblog.com/canadian-rrsp-vs-us-401k-comparison/ )

I have I think around $250K in mine. I put most of my money into buying my house first. This year, I'm substantially beefing my RRSP up.

[OttoVonBismarck]

Around $150k, but mind as a Federal employee my thrift savings plan isn't like a 401k in terms of expected contribution to my retirement. I have the defined benefit pension plan, and then I have a private IRA I've funneled all the money I've made from outside government work that has a substantially larger amount than my TSP.

[Malthus]

I'm 41 and have $600,000 in my 401 (k).

Woah. You must have been lucky with your investments. Isn't there like a $15K per year contribution limit in the US?

[Admiral Yi]

Significantly less than any of you, hopefully more than Ide and Raz.

[Caliga]

I have an IRA, a 401(k), and I also have deferred stock comp.  Between all of those things and including Princesca's IRA and 401(k) I'd guess we are close to the top of the $100K option.  Priority right now is to finish paying off the mortgage, and then funnel the max possible into the 401(k) plans.

[OttoVonBismarck]

I'm 41 and have $600,000 in my 401 (k).

Woah. You must have been lucky with your investments. Isn't there like a $15K per year contribution limit in the US?

It's $17.5k now, but mind your employer can make contributions on your behalf--currently up to $33k per year. In theory if you had a very generous employer and contributed your maximum you'd be able to sock away a bit over $50k/year.

IRAs have a $5k contribution limit, but because you generally can structure them differently and rollover contributions from other retirement plans it's actually relatively easy to load a bunch of money into an IRA over what you'd expect from that limit.

[Savonarola]

I'm 41 and have $600,000 in my 401 (k).

Woah. You must have been lucky with your investments. Isn't there like a $15K per year contribution limit in the US?

I've been employed as an engineer since I was 22 and always contributed a fairly high percentage, plus I've always had employers who matched a percentage of my investment.

It didn't occur to me that was unusual or even a large amount until today.

[Malthus]

It's $17.5k now, but mind your employer can make contributions on your behalf--currently up to $33k per year. In theory if you had a very generous employer and contributed your maximum you'd be able to sock away a bit over $50k/year.

IRAs have a $5k contribution limit, but because you generally can structure them differently and rollover contributions from other retirement plans it's actually relatively easy to load a bunch of money into an IRA over what you'd expect from that limit.

I assume that the employer contribution is also tax-deferred?

Holy shit, that's sweet. 

Here, we have basically three plans the average idiot like me can use: RRSPs that are kinda-sorta like 401 (k)s except no employer contributions; RESPs that are an education fund for the kiddies (the government 'tops up' contributions - basically, $7500 in free money for education if you make the matching contribution); and 'Tax free savings accounts' which are a reasonably new invention - you are allowed to put 5K per year, every year (now 5.5K, I believe - since inception its $25.5 K) into an account, and no tax on the increase within the account. You can take money into and out of that type of account freely. 

[DGuller]

About $350k.

[crazy canuck]

After I incorporated my annual RRSP limit went way down so basically it holds what I contributed when I was an employee plus the small annual amounts I contribut to it now - but it is still a nice chunk of change.

[Admiral Yi]

RRSPs that are kinda-sorta like 401 (k)s except no employer contributions

So do Canadian employers typically make no contribution to employee retirement?  Jacob in another thread said defined benefit plans were atypical, like the US.

[Valmy]

I have a pension, no idea how much I have put in.  It is 10% of all I have earned which is....not much.