So, just how much money are those lazy seniors getting from their Social Security?

[customerserviceguy]

17. Oh, yes, the interest rates stink

But all of my 401K is in money market funds, so I'm not playing betting games with my principle. Right now, I'm laying away 20% of pay there, with a three percent match from my employer, that's over a thousand a month going into the account. No interest, but at this point, my own contributions are a far better way to make that account balance rise than any investment 'strategy' with the funds in my employer's plan.

I have a credit card debt to pay off, and when that's done, I'll up the 401K percentage even more. Of course, there's no danger that I'll get anywhere near the three million figure the President wants to use, but once we've established that a tax deferred account has artificial limits, then it's all a matter of where those limits go in future administrations and Congresses. I figure they will be a tempting target in the years ahead if this part of the President's budget plan succeeds now.

With a modest pension from my current employer, I should be OK. But I'm planning the next ten years to save as if Social Security isn't going to be there. If I'm wrong, it's not too tough a situation to live with.