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Reply to "401s are they just a big scam? Is it a new reitrement thing that hasn't stood the test of time?"
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[quote=Anonymous]Not a scam, just a tax deferred way to save a portion of what you need for retirement. I have about $750k in my 401k, my DH has an equivalent amount, but I would never presume that is enough for retirement. We have a lot of other savings, they just aren't as tax effective as the 401k. I guess we are technically invested in real estate as our primary home, in which we have a lot of equity and will have paid off in about 10 years, is more than we will need in retirement. But I am not counting on that because I am not sure we'd really downsize. Our second home is theoretically also an investment but again not sure we would sell it. I've owned rental properties in the past but was not smart enough to make money on that so would not get back in that game.[/quote]
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