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<blockquote data-quote="refineryworker05" data-source="post: 2899822" data-attributes="member: 66082">You made a completely irrelevant point.&nbsp; How one individual person&#039;s 401k performs is not a point worth discussing.The data on 401k performance for most workers is very clear.&nbsp; It is terrible.&nbsp; It doesn&#039;t provide adequate retirement savings.This is how I look at pensions and 401k&#039;s.A pension that pays out $20,000 per year is the equivalent to a 401k with $500,000 because the 401k can run out of money, financial advisors suggest not taking out more than 4% of your 401k in any year.&nbsp; So that 4% of $500,000 is $20,000A pension that pays out $40,000 a year is equivalent to a 401k with $1,000,000.&nbsp;Now what percentage of workers ever reach having $500,000 or more in a 401k?<a href="http://carlsoncap.com/articles/401k-plan-savings-aging-workforce-saving-enough-retirement/" target="_blank">401(k) Plan Savings - Is Your Aging Workforce Saving Enough for Retirement? - Carlson Capital Management</a>A recently published U.S. Government Accountability Office (GAO) analysis of a 2013 Survey of Consumer Finances found that 41 percent of U.S. households age 55 – 64 have no retirement savings. 61 percent have less than $50,000 saved for retirement and only 9 percent have more than $500,000 in retirement savings. In fact, the GAO calculated that of the 59 percent that has money saved for retirement, the median amount saved is $104,000.<a href="http://carlsoncap.com/articles/401k-plan-savings-aging-workforce-saving-enough-retirement/#1" target="_blank">1</a> This equates to about $310 per month in an inflation-protected annuity for the average 60 year old person.</blockquote>

[QUOTE="refineryworker05, post: 2899822, member: 66082"] You made a completely irrelevant point. How one individual person's 401k performs is not a point worth discussing. The data on 401k performance for most workers is very clear. It is terrible. It doesn't provide adequate retirement savings. This is how I look at pensions and 401k's. A pension that pays out $20,000 per year is the equivalent to a 401k with $500,000 because the 401k can run out of money, financial advisors suggest not taking out more than 4% of your 401k in any year. So that 4% of $500,000 is $20,000 A pension that pays out $40,000 a year is equivalent to a 401k with $1,000,000. Now what percentage of workers ever reach having $500,000 or more in a 401k? [URL="http://carlsoncap.com/articles/401k-plan-savings-aging-workforce-saving-enough-retirement/"]401(k) Plan Savings - Is Your Aging Workforce Saving Enough for Retirement? - Carlson Capital Management[/URL] A recently published U.S. Government Accountability Office (GAO) analysis of a 2013 Survey of Consumer Finances found that 41 percent of U.S. households age 55 – 64 have no retirement savings. 61 percent have less than $50,000 saved for retirement and only 9 percent have more than $500,000 in retirement savings. In fact, the GAO calculated that of the 59 percent that has money saved for retirement, the median amount saved is $104,000.[URL='http://carlsoncap.com/articles/401k-plan-savings-aging-workforce-saving-enough-retirement/#1'][U]1[/U][/URL] This equates to about $310 per month in an inflation-protected annuity for the average 60 year old person. [/QUOTE]

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