How big is your 401K ?

Nothing you can really ever bring up at a dinner party. But if you're like me, you are always wondering, "Am I saving enough?" .... Just go ask a financial planner, you'll always get the same answer, especially if they work on commission ;-)

One piece of the puzzle is figuring out if you can maintain a lifestyle. Hopefully my retirement estimator is helping you on that path.

Another quick sanity check is to check out the Employee Benefit Resource Institute (EBRI) reports on 401K distributions in the US. Excellent data on how the averages are for people in your age and salary range.

Highlights :

--> The average 401(k) account balance increased at an annual growth rate of 8.7 percent over the period, to $121,202 at year-end 2006.

--> The median 401(k) account balance (half above, half below) increased at an annual growth rate of 15.1 percent over the period, to $66,650 at year-end 2006.

It breaks it down into people in their 20's,30's,40's,50's, and 60's, and then further looks at different ranges of yearly salaries. Interesting reading.

Of course I just want to hit a big payday in one of these poker tournaments ! Played 3 today, made one final table, and made it to the money in the other 2. The one I final tabled only paid out 6.

Anybody think Social Security is going to be around for us ? .... ie, those of us in our prime earning years right now ? 30's and 40's ? I don't think so either, and not that I'm some wacko conspiracy theorist, but I'm sure it has been part of the government's 'conditioning' of us for years. So that when it goes away, we simply say, "Yeap, about time, they've been telling us for years."