We Love Reddit’s Answer to User Who Thinks He Saves Too Much for Retirement

Rearview shot of a senior man admiring the view from his car
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When it comes to saving for retirement, it seems like no one’s prepared. Pretty much every report says retirement funds are falling short.

A recent Reddit thread, however, shines a different light on how people view retirement and are successfully preparing for it.

How One Reddit Thread Gives Us Hope About Retirement

On Aug. 10, Reddit user VintageBurtMacklin started a thread titled “Why Save So Much For Retirement?

The user explained how he maxes out his 401(k) contributions but worries doing so will result in him neglecting his other financial goals.

“It just feels like overkill to me to prioritize funding retirement in the midst of other savings goals like paying off house early, starting college savings, saving for new cars, or saving for major home repairs,” VintageBurtMacklin wrote. “I can’t imagine the benefit of maxing out my retirement accounts to the full 401k and IRA maximums. Sure, it nets me the absolute highest return objectively, but what will I actually do with that money once I’m there? Is it not to the detriment of life in the meantime?”

VintageBurtMacklin didn’t see the long-term value in maxing out his contributions, but other Reddit users were quick to give him a rundown.

You logic is fine if you have other saving needs like a house or education. Just remember your calculations are figured for perfection. No illness, job loss, divorce, stock market dropping over 30 percent and not breaking even for over 10 years (which it has done numerous times),” wrote Reddit user Amcal.

Others generously offered their own personal experiences to back the suggestion that he continue to contribute as much to his retirement account as possible.

“When my father was your age, he made $150k per year. Today, he is unemployed and broke,” wrote palsh7. “Fortunes change. Don’t assume anything. If you’re still feeling good at 55, by all means, cut back, but right now you want to invest.”

Why This Thread Is So Great

Much of the buzz around retirement these days is about people not saving enough. According to MarketWatch, women ages 65 and older work more now than they did 20 years ago, mainly because they can’t afford to retire. On top of that, the same article says millennials also struggle to put money away for when they’ll retire.

This Reddit thread, however, sets a different tone for the retirement discussion. While we may not be perfect when it comes to saving, it’s refreshing to see we’re sharing lessons we’ve learned from our mistakes, hoping that others don’t make the same ones.

The other reason we love this thread so much? It shows people are taking strides toward becoming money-conscious.  

And we love that this guy is maxing out his contributions. Hopefully, he sticks with it!

Oh, by the way — did you know Reddit is a great resource for financial information? If not, check out 31 of the best subreddits for Penny Hoarders.

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Kelly Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.