[quote=CA renter]In order to compare the retirement plans, you have to include 401ks (along with any other retirement plans) AND Social Security, combined. Even then, it doesn’t account for the different nature of the programs — insurance/retirement/deferred compensation.[/quote]
I did. Why did you think I add in the $800k in 401k nest egg by 55? An average pension of $3k/month is equivalent to SS + ~$800k (NPV calculated) 401k for a private sector employee. Please tell me, is it normal to expect someone making a median income of $39k be able to save $800k in their 401k by the time they’re 55?