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A comment on Older Americans who live in RVs and drive from one low-wage job to another. Parent comment

Re:Older Americans who live in RVs and drive from one low-wa... by PopePompous on Saturday November 11, 2017 @08:24PM (#15679169)
Another big problem is that 401Ks have a "longevity risk". Saving as an individual, you must save enough to handle the very remote possibility that you will live past age 100. A pension fund, on the other hand, can safely assume that on average pensioners will die long before that. So a responsible 401K holder must oversave.
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Re:Older Americans who live in RVs and drive from one low-wa... by walshemj on Saturday November 11, 2017 @08:31PM (#15679192)
401's have ridiculous low contribution maximums and you don't get any tax rebate unlike the UK where you get relief at your effective tax rate
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Re:Older Americans who live in RVs and drive from one low-wa... by gozur88 on Saturday November 11, 2017 @10:42PM (#15679539)
In theory you can hedge that risk with an annuity, and anyway you get social security until you die.
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