How 401(K) Sprints Can Make You A Multi-Millionaire (By AGE!)
The Personal Finance Podcast
Intro
Andrew opens the episode, previews 401(k) sprints, and mentions sponsors and where to follow the show.
In this episode of The Personal Finance Podcast, Andrew introduces the 401k Sprint strategy—a game-changing approach where you max out retirement contributions for just 5-10 years instead of grinding for 30-40 years straight, proving that a 25-year-old who contributes $23,500 annually for only 5 years can retire with over $2 million while someone starting at 60 can still add $430,000 in just 5 years using catch-up contributions. He breaks down the exact numbers for sprints starting in your 20s, 30s, 40s, 50s, and 60s, explains the difference between traditional and Roth 401k strategies, and shows why the 2-on/2-off cycle approach (maxing contributions for 2 years, taking 2 years off, and repeating) can still build nearly $3 million by retirement—proving that short bursts of intense saving combined with compound growth can beat decades of mediocre contributions.
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- Relevant Episodes:
- Should You Stop Using a Roth 401(k) After a Certain Income? (Money Q&A)
- What to Do With Your Old 401(K) (Step-By-Step!)
- Should I reduce my 401(K) Contributions to Save for a House? - Money Q&A
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