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Reply to "401K plus pension"
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[quote=Anonymous][quote=Anonymous]I have $200,000 in a 401K plus a pension that I am vested into for approximately $6500 per month starting at the age of 58. I am currently 42. Am I super far behind? I feel like I should have way more in my 401K. Making $150,000 a year (but that is new). Started at $55,000 and have gone up over the past 15 years. [/quote] you're not super far behind but you likely should be saving more. I was able to go from $0 in my TSP at 40 to about $800k at 51, and while i did not max all that time i have been maxing for at least the last 7 years (now including catch-up). i'll hopefully have around $2mil in the TSP when i retire in a decade or so, and maybe a $6k/mo pension that will receive COLA increases. hard to know what SS will be available in 15 years + time so i don't usually count it in my projections. [/quote]
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