Quote:
Originally Posted by ncole1
I have noticed several people saying they would not do something like funding kids' college or paying debt off unless they were maxing their 401k. What is the reason for thinking you need to put in the absolute maximum allowed by law, instead of simply an amount that is appropriate for your expected expenses, age, etc.? Not all of us want to have a super-lavish retirement at the expense of a somewhat better life now.
edit: Mods can move to Personal Finance, I meant for it to go there.
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Most people in this forum are older and likely didn't start saving much for retirement before their mid to late 30s. For them in order to have a decent retirement it likely would take something close to maxing a 401k.
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