General Discussion
In reply to the discussion: If you are between 30-50 .. how do you feel about your nest egg? [View all]MissB
(16,139 posts)Dh has a 401k, to which he contributes the max each year. He is in his early 50s and has worked for the same employer as an engineer for 25 years. He has a small pension with them, but they switched to the 401k after he'd worked there for 5 years. We jokingly call the pension one our future beer money. Assuming SS is still around, he will get a fair chunk.
I'm in my early 40s and work as an engineer in the public sector. I have a pension and three other retirement accounts, only one of which I contribute to. The other two are set up by my employer (and aren't part of the defined benefit and I can't contribute to them - my employer did or does, depending on which one). I will get a decent amount of SS.
The house will be paid off when I'm in my early 50s. If dh were to lose his job before then, we could pay the bills strictly on my salary.
I know we are fortunate. Part of our fortune is that dh has worked for the same employer. Part of it is that we've always put the max into his 401k each year, even when the market sucked and even when we really could've used the money. I'm grateful for where we are. I don't expect to be taking European vacations when I retire. But I do think we will have a retirement similar to what our grandparents (regular working class folks, not technical/white collar) had. And that's fine with me.