401(k) Millionaires: The Easy Path for you to Become One Starting Today

Rahul IyerJune 09, 2021

Becoming a millionaire sounds like a pipe dream, right? Only the rich and famous have a million dollars (or more) in their 401K.

What if you’re wrong? What if people just like you could have millions of dollars in their 401K too

You can. Here’s how.

Start Early

The earlier you start, the more money you’ll save. Even though you’re restricted by the annual contribution limit (for 2020 it’s $19,500), your money has time to earn interest. Then your interest earns interest. Compounding interest is the best way to make your money grow fast and get you to your million-dollar goal.

Contribute Regularly

Try contributing every month (or predetermined frequency) without fail. Better yet, increase your contributions each year or when you receive a raise, get a higher paying job, or receive a bonus.

Revisit your contribution schedule. Can you afford more? Even if it’s only a small increase, every little bit helps. But consistency is the key. Don’t set your contributions so high that you have to give up entirely to make ends meet.

Know your Risk Tolerance

When you’re young, you have a high-risk tolerance. In other words, you can invest a majority of your portfolio in stocks and only a little in more conservative investments. This gives you a higher chance of great returns while you can take the chance. If things fall apart, you still have a lot of time to make it up.

Once you’re closer to retirement than not, pull back. Don’t invest so aggressively, but don’t get so conservative that you have little to no earnings. Working with a financial professional will help you create the perfect portfolio.

Don’t Borrow from your 401K

It’s tempting, especially during times like now to dip into your 401K. You earned the money, so why not use it, right?


Leave it untouched if you can. Make dipping into your 401K a last resort. Even if you take a 401K loan and pay yourself back, you lose all the compound interest. That takes away from your chance of becoming a million-dollar retiree.

Don’t Forget your Old 401K Accounts

This is a problem a lot of people have. You change jobs and forget about your old 401K. You let years go by and then realize you forgot it. Those years just cost you thousands of dollars. Make it a habit to rollover your 401K right away, even if it’s into an IRA if you don’t have immediate access to a 401K at your new job.

Just don’t cash it in – roll it over and you won’t pay any penalties or taxes.

Becoming a 401K millionaire is easier than you think. It takes consistency and dedication and a whole lot of patience. Don’t expect it to happen overnight or even in a few years. Let your contributions and earnings grow steadily and before you know it, you’ll be in the million-dollar club too.

“With 30 million employees not taking advantage of this investment opportunity, it could be a big market.“
Greg Kumparak
Editor, Tech Crunch
“One out of every four Americans do not get their full 401(k) match because they don't have the cash at the right moment to invest in retirement savings.“
Berber Jin
Reporter, Business Insider
“[Lendtable] can literally turn people who can’t afford to save into millionaires through their 401(k)s.“
Clayton Jarvis
Reporter, Moneywise
“Lendtable will advance cash for you, increasing disposable income for you to invest in more crypto stocks and blockchain ETFs.“
Editorial Team
The Block
“If your employer has a 401(k) match program, this is money they already have earmarked for you. By using Lendtable... you'll be able to unlock that free cash.“
Kari Faber
Writer, Penny Hoarder
Benefits Calculator
How much money can you earn now?
Amount saved with Lendtable
Calculated at next step
About Lendtable

How much money can you earn now?

Amount saved with Lendtable
Calculated at next step
What is Lendtable?
Lendtable allows you to max out your employer’s 401(k) and ESPP match programs while keeping your monthly income the same so you can keep paying your bills while taking advantage of your match policies.
How it works
Lendtable supplements your monthly income with the money you put toward your employee benefits. More benefits for you with less budgeting!
About Us
Employees around the nation are maxing out their benefits without digging into their monthly expenses.
Get Started
1475 Folsom St.
San Francisco
Copyright © 2021 Lendtable LLC. All rights reserved