retirement

Hey, I’m 45 with 146k in a 401k and 1700.00 in pensions per month accumulated so far. Is it fair to forecast 10 years of future pension earnings for a total 401k balance? Since most use 401k balance it seems easier this way.

Terry Says:  I’m not quite sure what you’re asking!  If you want to forecast how your 40l(k) might grow, it depends on your asset allocation and the vagaries of the marketplace — and how much you keep contributing over the years.  A pension is something quite different — a defined contribution plan that is designed to make a promise of what you’ll collect monthly at retirement if you keep working at the company.  So they are quite different — and should be viewed differently.

Either way, congratulations on having built such a great start for retirement. Keep going!