Listener Elizabeth shared that she recently checked in with her 401K provider and was shocked by how much she had saved without even thinking about it.
In just two years at her current job, she’s built up $16,000 — and she still has another $16,000 from her previous job of three years. She told Eddie and Lunchbox that if they started now, they could easily rack up $30K or more in just a few years. Her advice? “It’s easy money. Go talk to your 401K people.” Lunchbox was intrigued by the idea, especially the part about $15K or more sitting in an account, but quickly ran into a roadblock. He said there’s no one in their building to talk to, and he forgot to make an appointment with Abby’s boyfriend, who’s a financial advisor. He admitted he’d have to bring numbers showing his monthly net profit or loss, but joked that for him, it’s “basically nothing.”
Eddie said he’d also be open to meeting with Abby’s boyfriend, but that his wife is the one who handles their money. He even half-jokingly blamed her for them not having a 401K, explaining that she feels they’re using all their income right now and don’t have the extra space to contribute.
Elizabeth gave a shoutout to Morgan for inspiring her to check her retirement funds in the first place. On her podcast, Morgan had interviewed senior residents and they talked about saving for retirement, which got Elizabeth thinking about her own future. Morgan also revealed she’s been contributing to her 401K for five years already, proving it’s never too early to start.