Reply to What's your age / 401k balance

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]57 salary $160,000 I have $650,000 in 401K been in same plan for 30 years 8 percent company match. Can’t for the life of me figure out where I went wrong with investing to only produce $650k? Presently in a 2020 retirement fund 60% fixed has returned 7.1% so far this year.

I do have a $5600 a month pension with continuing health care so I hopefully won’t be living in a refrigerator box.
[/quote]

Probably won't make a huge difference, but 2020 is only three years and you might want to consider the 2030 (or further out) fund. (I'm assuming you are going to work more than 3 years.) The pension is a game changer for you of course, but looks like you are probably working at least until you are eligible to draw that. Adjusting where you draw from first to delay (and increase) SS may help in the long run.[/quote]

PP here - I can claim that pension now, it will increase by about $150 a month every year I continue to work. As far as how long I will work I feel that will not be totally no choice. I know how that talk goes.[/quote]

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