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<blockquote data-quote="Oldfart" data-source="post: 3650015" data-attributes="member: 64407"><p>Your math is correct but your logic isn't. However you DID point out the major flaw about the Traditional that gives you nightmares on a daily basis. NO COLA. The 2k a month I am due will never go up. I intend on combating that by loading up my 401k. That will be the major basis of my retirement. I have been preparing for retirement from the day I started working and will soon reap the reward of my sacrifices. Just because you didn't prepare for retirement doesn't mean others haven't. The part time courier across the belt from me recently told me that he is on plan to retire by 55 and will be able to replace about 90% of his working income in retirement. He has enough military time to keep his military medical insurance along with a small pension. This guy is not topped out and is a ways from it. He did it by doing all he could to make large 401K deposits and making the needed sacrifices to max out Roth accounts. He works as many days off as he can and gets full time hours while making step 5 or 6 pay. You don't have to make a large income to get involved in the 401k. You just have to live on less than you make. You didn't properly prepare for retirement and now you are suffering the consequences. You can't blame Fedex for your money issues. The person responsible is staring at you in the mirror.</p><p></p><p>As far as my Portable and not living long enough to spend it all. I haven't checked on it but it might fall on my kids as an inheritance and might not be taxable unless the estate is over the million or whatever it is. I know I got a very small cash amount when my mom passed away and I didn't have to pay taxes. As far the medical community separating me from my money. Proper retirement planning involves Long Term Care Insurance. I jumped on it years ago when Fedex offered it. It was so cheap I couldn't pass it up and that will take care of me when those services are needed as I get older. You must have a plan and stick to it. You didn't. Myself and plenty of others did.</p></blockquote><p></p>
[QUOTE="Oldfart, post: 3650015, member: 64407"] Your math is correct but your logic isn't. However you DID point out the major flaw about the Traditional that gives you nightmares on a daily basis. NO COLA. The 2k a month I am due will never go up. I intend on combating that by loading up my 401k. That will be the major basis of my retirement. I have been preparing for retirement from the day I started working and will soon reap the reward of my sacrifices. Just because you didn't prepare for retirement doesn't mean others haven't. The part time courier across the belt from me recently told me that he is on plan to retire by 55 and will be able to replace about 90% of his working income in retirement. He has enough military time to keep his military medical insurance along with a small pension. This guy is not topped out and is a ways from it. He did it by doing all he could to make large 401K deposits and making the needed sacrifices to max out Roth accounts. He works as many days off as he can and gets full time hours while making step 5 or 6 pay. You don't have to make a large income to get involved in the 401k. You just have to live on less than you make. You didn't properly prepare for retirement and now you are suffering the consequences. You can't blame Fedex for your money issues. The person responsible is staring at you in the mirror. As far as my Portable and not living long enough to spend it all. I haven't checked on it but it might fall on my kids as an inheritance and might not be taxable unless the estate is over the million or whatever it is. I know I got a very small cash amount when my mom passed away and I didn't have to pay taxes. As far the medical community separating me from my money. Proper retirement planning involves Long Term Care Insurance. I jumped on it years ago when Fedex offered it. It was so cheap I couldn't pass it up and that will take care of me when those services are needed as I get older. You must have a plan and stick to it. You didn't. Myself and plenty of others did. [/QUOTE]
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