How hard is it just to read the doggone report you’re using to establish a . narrative?

And this is why I could care less of someone’s academic credentials. The appeal to authority doesn’t work with me, and neither should it for you.

https://www.ebri.org/docs/default-source/ebri-issue-brief/ebri_ib_12-2011_no366_401(k)-update.pdf?sfvrsn=c392292f_0

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13 replies
  1. Curtis Stewart
    Curtis Stewart says:

    I guess he is talking to me. Sixty two with a 401K of <$20K. Income >$100K a year. Been with employer less than 2 years. This feller is destined to regular doses of cat food to survive.
    Except for SDIRA where other employers 401K's have been stashed over the years, individual brokerage account, side gig jobs, and paid for house. Have lived years way below my income and know my expenses.
    Something tells me I'm gonna be OK. Even with just my high school education.

    Reply
  2. Sergio Santana
    Sergio Santana says:

    The professor in the auditorium with the theater screen and the laser printer thanks but no thanks i will follow the dude who barely got through high school who now teaches finance from his basement using a whiteboard with a PVC pipe as his pointer and a dog on his shoulder at times though he does wear nice t shirts . Josh you are the real deal when it comes to retirement planning you put many to shame

    Reply
  3. Jeff Raines
    Jeff Raines says:

    The thing that chaps my ass most of all regarding people like this is that they always use pre retirement income as a scare tactic for retirement income. I figured out the ignorance of this talking point when I was like 24. If I make 200k per year prior to retirement, but consume as if I made 25k per year, then why would I need 85% of my pre retirement income going forward? Not one single advisor, insurance agent, investment guru, etc has ever been able to come up with a legitimate answer to this question

    Reply
  4. John C
    John C says:

    Professor Granof had his "brain off"! No other assets than a 401(k) and SSA benefits? Nothing else? Other savings and investments? Real estate (a home, perhaps?). So the study cited by Gran-off admits that the data show only a partial picture? But that's okay… scare 'em! Make 'em wet their pants! Make 'em demand that the government step in and "save" the situation! Confirms that adage: If you can't do it, teach it! 😣

    Reply
  5. vinyl1Earthlink
    vinyl1Earthlink says:

    None of these guys ever consider you might have other assets that are not in 401Ks. You own a couple of rental properties? You've got a couple million in a regular brokerage account? Sorry, that's not retirement savings!

    Reply

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