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Archive for September, 2016

I'm a success story (maybe?)

September 27th, 2016 at 08:08 am

I was thinking about retirement today during some down time (OK, I do that too much I fear), and I was looking at the balance in my 457 retirement plan. I started to think that about how expectations change over time. 10 years ago I would have been ecstatic having my current balance, especially with a pension and other investments and a paid house, and I started to think back at how things looked then. And then it hit me...

About 10 years ago I watched a PBS "Frontline" video they made about our retirement system in the U.S. Basically discussing the 401k retirement system and how it was inadequate (I don't agree, but that that's not my point). In it they talked to various people from a company that never had a pension plan but very aggressively tried to get employees to save, save, save in the 401k plan for their retirement. The main two retirees talked with was one guy that didn't save nearly enough, and another was a fellow that had saved a fairly good amount and while he said he had wished he had saved more he thought he didn't do too bad. The fellow with the large amount lived in a nice house and seemed fairly relaxed about his retirement (and the narrator talked of him as a success story). And today it hit me.... the amount they showed for his 401k balance... it was almost identical to what I have saved in my account now. And that account was for both him and his wife (If I recall correctly). So am I a success story??? Hmmmm....

These days I go online and I see people with a million or more saved, and it makes me think I should do more. Yet I need to remember that I'm doing good and there is really no need to stress on this any more. I'll be in great shape whatever comes down the pipe at this point. (that doesn't mean I am going to go crazy spending however!!!)