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Reply to "Why max out 401k?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't know why you are maxing out. I'd do up to the match and enjoy the rest. I can also live nicely on $4k a month. Not sure why you need twice that.[/quote] 4k a month? Assuming your house is paid off, that's still cutting it pretty close IMO. 1k food, 1k in property taxes and insurance, 1k healthcare.[/quote] The tricky part is figuring that out in future dollars. I'm not OP, but we live on 6k including day care bill and mortgage. 4k would be more than enough without those. But we don't know how much food will cost in 25 years, for example.[/quote] But you should factor in that your health care should be more expensive then (as it should be- you're not as healthy at 65+). I don't have a mortgage, but property taxes are 6k a year and homeowners insurance is 2k. And as your home ages, you will need to maintain it too, and you might not physically be able to do that work anymore.[/quote]
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