Originally Posted by
swaayze
Ha, I wish. Already far ahead of the average American.
Sadly it’s obvious that retirement is gonna be quite the crisis in the years ahead now that DB pensions are mostly gone and the vast majority saves little to nothing.
Defined benefit plans were never as widespread as believed or as lucrative. Only about a third of the population had anything like a DB plan and many paid little, perhaps 1/4 to 1/2 do social security. And, all DB plans were invested in the same markets as your current 401k, just a bit cheaper fees. Ask the many state retirees with grossly underfunded DB how secure they feel. I know lots of CT retirees wondering if they’re gonna wind up with a big haircut like the RI retirees got. See Central Falls, RI
GF