Reply to Separate finances: how to deal if one spouse isn't saving enough for retirement

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[quote=Anonymous][quote=Anonymous]OP here.

So, DH is calculating that he will need $10-15K/year for his kids to attend his or another association college. Big savings but not free. He makes $75K/year.

He is 48 and has $45K in his 401(k). No pension.

He is in the humanities and not a researcher (so his career is really based on the teaching at this point), and was thinking he'd retire around 65. But that's a number in his head, assuming he's well enough to teach up until then. He doesn't want to teach forever and just hang on to hold onto the income.[/quote]

How much do you make and generally what do your monthly expenses look like?

Maxing his 401K on $75K per year is pretty good, there's probably not a lot of people making $75K that are still maxing their retirement accounts although I agree he should have a lot more in retirement than he does.  Presumably he saved little to nothing beforehand.  Still, he has about 17 years left of contributions which could end up being a sizable amount if you include returns plus he will also get social security.  You guys also have the house to the extent you plan on leaving the area.  One option for you might be to go part time or retire earlier if you wanted to.[/quote]

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