Save at least 10 percent of your pay for your retirement. This includes any match you might get from your employer. For example, suppose your employer matches dollar for dollar on the first four percent of pay for your contributions. In this case, you’ll need to save six percent of your pay — four percent to get the four percent match, plus two percent to get up to 10 percent.
I personally think that saving 10 percent regardless of what the employer puts in is a better way to go. Now after all of that, pray that when your son wants to retire, the stock market doesn’t crash. That is my only worry about stock market being used for retirement (what other option do you have really). With Social Security eventually going to stock market, it will be having all eggs in one basket but again what choice will anyone have.
I think the stock market is the last place on earth anyone should put their money. Put it all in the bank and save it there, don’t put it all in investments. It’s the highest possible risk area and I for one shy away from it.
That's funny.
Do you really think the Federals (both Republican and Democrat) would willingly give up their own private slush fund?
(I think not.)