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Old 05-13-2006, 03:40 PM
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Brad Gile Brad Gile is offline
Join Date: Sep 2001
Studying for whatever I feel like
College: Alumnus of Brown and UW-Madison
Posts: 11,341

Originally Posted by Suthrn
I'll argue that maximizing your 401k contribution makes sense for a nonactuarial reason ... for most people the alternative is spending it.
Exactly. It is truly scary how a lot of people getting near retirement age (a) think SS benefits provide an adequate retirement (maximum now is a little over $2k/month!) and (b) expect that a modest nest egg (one guy actually said $50k would suffice!) will sustain them for life. According to SSA, 2/3 of all SS beneficiaries have no other source of income!

It ain't taxes you really want to worry about. Worry instead about having enough at retirement that you should be reasonably safe from outliving your assets.

Brad Gile, FSA, MAAA
Affiliate Member of the CAS
Dedicated Retired Actuary

Obama sucks and we all know it-TDA


That's been the funniest subplot of this whole thing, the people on the left attacking this bill for not being even more of a steaming pile. - erosewater
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