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Reply to "Do you cut back on 401k/IRA saving if you expect to inherit millions?"
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[quote=Anonymous]I don't have this "problem" but to my mind it's dependent on what you make and what you spend (and to a lesser extent, what your match is). My feeling is if you have $1M at 40, you're already at a high income and you shouldn't necessarily need to cut back $1k/month to avoid a "life of deprivation." But if your 401k is really high because you get $20k/year from your employer, and you actually don't make that much, then cutting back to the max might be fine, because you'll end up with $5M+ with those numbers regardless. But if you already make $250k+, I would not forego the tax savings and focus on spending more on the assumption that your retirement is taken care of 20 years from now assuming your parents don't have anything happen to burn through their estate. A lot can happen.[/quote]
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