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Is your 401k up to this standard?
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<blockquote data-quote="Babagounj" data-source="post: 5559198" data-attributes="member: 12952"><p>I had to vote NO on this poll.</p><p>I retired some years ago because of medical issues.</p><p>My amount saved, without an employer match, was as I have read elsewhere at the level of what commercial airline pilot had.</p><p>I have since taken out around $200,000 for some toys. </p><p>But not all at once, must watch those medicare tax amounts. Medicare has a sliding scale about income that will raise what you pay monthly going forward. They look at your age 63 income to set your monthly amount for your first year ( 65 ).</p><p>Saving into a 401K was easy. Every raise given was an additional increase. Sure there were times when I lowered the amount, but looking back that was a big mistake.</p><p>I have calculated that when I begin taking RMD, required minimum distributions, my current amount will last until I'm 122.</p><p>( Don't worry gumby , I'll check out before then )</p></blockquote><p></p>
[QUOTE="Babagounj, post: 5559198, member: 12952"] I had to vote NO on this poll. I retired some years ago because of medical issues. My amount saved, without an employer match, was as I have read elsewhere at the level of what commercial airline pilot had. I have since taken out around $200,000 for some toys. But not all at once, must watch those medicare tax amounts. Medicare has a sliding scale about income that will raise what you pay monthly going forward. They look at your age 63 income to set your monthly amount for your first year ( 65 ). Saving into a 401K was easy. Every raise given was an additional increase. Sure there were times when I lowered the amount, but looking back that was a big mistake. I have calculated that when I begin taking RMD, required minimum distributions, my current amount will last until I'm 122. ( Don't worry gumby , I'll check out before then ) [/QUOTE]
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Is your 401k up to this standard?
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