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I love how everyone assumes that man left $0 in retirement savings: "Now working in the public sector and paying into a pension..."
by fundad 3y ago
I love how everyone assumes that man left $0 in retirement savings:
"Now working in the public sector and paying into a pension..."
- whimsicalism 3y agoHe paid penalty on 401k withdrawals. I made no assumption that he left $0, but it is a stupid decision to pay 401k penalty in almost all situations.
- sokoloff 3y agoThe words immediately following your ellipsis are: "...Mr. Scharf, 55, calculates that if he retires at 70, he can draw 40 percent of his former salary." Working until 70 and even at that having only 40% of his former salary sounds like a pretty bad financial planning outcome, especially if you voluntarily put yourself into that situation.