BoatBanter.com - View Single Post

Vic Smith

On Mon, 08 Dec 2008 09:18:33 -0600, wrote:

On Mon, 08 Dec 2008 08:52:25 -0500, Eisboch wrote:

They may have 401k's and/or similar and may make some form of matching
contributions, along with matching contributions to SS benefits.
That's about it, and that's how the majority of people plan for
retirement.

Funny, I haven't heard much talk of "privatizing" Social Security
lately. I wonder why that is. ;-(

Savings and SS were the factors I used in planning retirement.
Never bought into the equity craze.
I do have a big chunk of traditional pension coming when I hit 65,
but since I don't trust anything but money in the bank and SS,
I always looked at that as icing on the cake.
Why does everybody want to be rich?
I do feel for some latecomers to the Wall Street Ponzi scheme.
I've got a buddy who started socking the max into his 401k in
anticipation of retirement who is actually losing his paycheck
contributions of years past.
Sort of a retroactive pay decrease.
But he could have chosen the money market fund.
Not sure, but many who started contributions within the last ten years
or so might be in the same boat.
And usually contributions are heavier as you approach retirement, as
your salary is higher, the rules allow for higher yearly contribution,
and the kids are hopefully out of college.

--Vic

--Vic