Stocks and Investing Stocks and Investing
Thu, March 6, 2025
[ Today @ 10:08 AM ] - MSN
Eat Like a Belgian: Moules-Frites

I'm 69 and only have $121,000 in my 401(k). How can I repair the damage of the past?


Published on 2025-03-06 07:01:25 - MarketWatch
  Print publication without navigation

  • I am 69 and have been working for the same company for 45 years. I have a pension of $250,000. My company was bought out and the pension was frozen by the new company in 1997. The current company moved the pension to Fidelity,

The article on MSN discusses the financial concerns of a 69-year-old individual with only $121,000 in their 401(k), highlighting the inadequacy of this sum for a comfortable retirement. It explores the implications of not saving enough over the years and offers advice on how to mitigate the situation. Suggestions include increasing contributions to retirement accounts, possibly working longer, reducing expenses, and considering catch-up contributions allowed for those over 50. The piece also touches on the importance of financial planning earlier in life to avoid such scenarios, and provides insights into adjusting investment strategies to potentially grow the existing savings more effectively. Additionally, it mentions the need for a realistic assessment of one's retirement needs and possibly downsizing or finding additional income sources to supplement retirement funds.

Read the Full MarketWatch Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/i-m-69-atspnd-only-have-121-000-in-my-401-k-how-can-i-repair-the-damage-of-the-past/ar-AA1AdfYY ]
Contributing Sources