Quote:
Originally Posted by Shipping up to Boston
Most....is the keyword here
In my world, most have either employer or state/municipal funded pensions....invest in 401K or Roth and additionally, own real estate (rental properties). The latter acting as its own retirement cushion. But those decisions were made years ago with the benefit of foresight....knowing /fearing a bubble burst at some point in our lifetime. SS was always looked at as the slush fund (golf, eating out, road trips etc). A lot of luck and being at the right place at the right time....and being an active participant...not a spectator was the key. Easier path back then than it is now!
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When ROTH came around I wish they'd have explained them a little better/different. It was put to us that your tax situation at the time vs when you withdraw was the primary consideration for traditional vs ROTH. Looking back I wish someone would have asked me if I'd rather pay tax on the seed or the harvest. The tax rate means nothing when you add in years of compound earnings. I'd happily go back and pay tax at the time of earning vs paying it on all these years of growth. Still a pretty sweet deal.