Mitch Maiman
2 min readJun 19, 2024

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You may not get filthy rich at it but most professionals working in companies have access to 401K's (or 403b accounts in the public sector). I started out in my career after college in a good profession. Decades ago, as soon as 401k's were offered, I took advantage immediately by skimming 1% of my comp every year into a plan (invested in a portfolio of mostly equity funds). I realized in my profession there was near zero chance of ever having a fixed benefit pension in my future. I knew I would have to take care of the future myself. Every year, when annual reviews came up and I got a comp increase, I added another 1% or 2% to my contributions eventually hitting the max at my various companies. If I was lucky enough to get a bonus, part of that went into savings. Things were helped by corporations (yes... those big ugly things we like to bash) that matched my contributions by 50-100%. The money built up over a period of decades. I retired (or semi-retired, actually), having had a lived a good lifestyle my whole career. Not living like the very rich but fortunate in being able to have luxuries along the way (nice vacations, a home, cars). In the end, after decades of putting away my 401K money and investing, it turned into a pretty reasonable portfolio. BTW... I used a financial planner to help along the way as I did not have the knowledge and experience, nor did I have the time, to manage my portfolio as it grew (I have been with the same person for more than 30 years).

I know I have benefited from a good paying career as a professional. Was I lucky? Ok, in 1970 my parents were able to pay for my education but I was far from alone in that. However this was not particularly unusual. (If I had gone to an inexpensive community college followed by a state university, I would have gotten to the same place at reasonable cost). To me, it has been about disciplined savings and reigning in my self indulgencies with small sacrifices for the long term goal. Not everyone can do it. I realize that. However, it is not a far out dream requiring extraordinary luck to become what many would think of as rich. You will find many who started out with far less than me who acquired a lot more wealth than me by just working damned hard, being frugal along the way and making smart investments.

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Mitch Maiman
Mitch Maiman

Written by Mitch Maiman

Tech dreamer, entrepreneur, leader & a guy who likes to write.

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