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<blockquote data-quote="Oldfart" data-source="post: 2902426" data-attributes="member: 64407">The 401k only works if you use it.&nbsp;&nbsp; If you don&#039;t invest, you won&#039;t have any retirement.&nbsp;&nbsp; Your example about people having nothing in a 401k because they don&#039;t invest reminds me of people that don&#039;t receive Social Security when they retire because their government job opted out of SS.&nbsp; Their pension is about 55 or 60% of their working income and they complain they can&#039;t live on that.&nbsp;&nbsp; Why didn&#039;t they invest the 6% the rest of us have to put into SS each month and they would be sitting on plenty to retire with.I am not as smart as Tex but I know the 401k works for those that are smart enough to use it.&nbsp;&nbsp; You start when you are young, invest a little at a time and get a company match of up to 55% of your contribution.&nbsp; You stay with it, getting 10 to 15% returns plus saving 12 to 15% on your taxable income come tax season.&nbsp; 30 to 40 years later, you are sitting on a nice nest egg come retirement.If you just save $100 a month between your contribution and the company match for your entire work career and get a very conservative 8% return, you will be sitting on close to 300k come retirement.&nbsp; &nbsp; That would be about $20 from your weekly check and $5 company match.&nbsp;&nbsp; People that complain they can&#039;t save $20 a week are the same people drinking Starbucks 5 days a week, driving new cars with huge car notes and watching every possible premium channel on their TV at home while they have the latest and newest I-Phone every time they come out.&nbsp;&nbsp; Most Fedex employees can save money, they just have their priorities in the wrong place.</blockquote>

[QUOTE="Oldfart, post: 2902426, member: 64407"] The 401k only works if you use it. If you don't invest, you won't have any retirement. Your example about people having nothing in a 401k because they don't invest reminds me of people that don't receive Social Security when they retire because their government job opted out of SS. Their pension is about 55 or 60% of their working income and they complain they can't live on that. Why didn't they invest the 6% the rest of us have to put into SS each month and they would be sitting on plenty to retire with. I am not as smart as Tex but I know the 401k works for those that are smart enough to use it. You start when you are young, invest a little at a time and get a company match of up to 55% of your contribution. You stay with it, getting 10 to 15% returns plus saving 12 to 15% on your taxable income come tax season. 30 to 40 years later, you are sitting on a nice nest egg come retirement. If you just save $100 a month between your contribution and the company match for your entire work career and get a very conservative 8% return, you will be sitting on close to 300k come retirement. That would be about $20 from your weekly check and $5 company match. People that complain they can't save $20 a week are the same people drinking Starbucks 5 days a week, driving new cars with huge car notes and watching every possible premium channel on their TV at home while they have the latest and newest I-Phone every time they come out. Most Fedex employees can save money, they just have their priorities in the wrong place. [/QUOTE]

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