401k value

Question by quilter Reward: 100 Pond Points + 10 Knowledge Tokens Status: Answer selected by AnswerPond
If my husband had opened a 401k account in 1985 with $40.00 per month what would the value be now?



Reply from bionic2 Accepted answer! User Rating:  640 Knowledge Tokens
I think that both previous answers are correct. The total amount invested for 25 years at $40 a month will be $480 a year and $12000 after 25 years, however this principal can be invested in many different ways and may have made profits or losses during the years. The company where he worked may also have contributed a similar amount each month.
The only way to find out is to contact the firm (only your husband will have access to the information if he has his name only on the 401K)
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Reply from Dave User Rating:  84 Knowledge Tokens
It all depends on what investments he has in his 401k.
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Reply from RoamingInsomniac User Rating:  2050 Knowledge Tokens
About $12,000.00 is what it would be at $40.00 a month for 25 years. However, there will be a penalty if it is taken out. Check with the investment firm to see what the penalty is.
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