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Brown Cafe UPS Forum
UPS Retirement Topics
How big is your 401k?
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1409942" data-attributes="member: 12570"><p>My 401k is just below $120K and my goal is to retire with a balance close to $200K. I recently bought 256 shares of Apple ($95/share) through the SMA and used the dividends to buy 2 more shares. I have no personal debt and my mortgage will be paid off 3 months before I retire. My projected pension is $5K/month. My plan is to live off of my pension and delay SS until I turn 67. I am debating whether or not to tap in to my 401k to help my son pay down his $73K of student loan debt. Suze Orman says I would be foolish to do so and she is probably right but I feel awful that he is starting his professional life with that burden on his shoulders. He estimates paying $800/month for the next 10 years just to pay it off.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1409942, member: 12570"] My 401k is just below $120K and my goal is to retire with a balance close to $200K. I recently bought 256 shares of Apple ($95/share) through the SMA and used the dividends to buy 2 more shares. I have no personal debt and my mortgage will be paid off 3 months before I retire. My projected pension is $5K/month. My plan is to live off of my pension and delay SS until I turn 67. I am debating whether or not to tap in to my 401k to help my son pay down his $73K of student loan debt. Suze Orman says I would be foolish to do so and she is probably right but I feel awful that he is starting his professional life with that burden on his shoulders. He estimates paying $800/month for the next 10 years just to pay it off. [/QUOTE]
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How big is your 401k?
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