We had our yearly retirement seminar from our 401k administrator today. The future looks bleak. He said we need 80% of our income in retirement. We must invest enough to achieve this with an 8% average return minus 4% for inflation. Good luck with social security, if there is any left. Oh, and we are probably going to live for 25 years in retirement. With his plan, I don't think I can ever retire. Good thing I have my own plan.
I did learn one thing, that my employer's contributions to my 401k are not completely vested until year 5. I am only at year 3 1/2. I don't think I am going to make it to 5. I don't think it is very much money. Maybe a few thousand. Certainly not enough incentive to stick around longer at this job. My 401k is merely my back-up retirement plan anyway. Heck, if my current plan turns out well enough I can give my 401k to charity. Wouldn't that be nice?