[John M]

I am 57 and earn 125K yearly, have a lot of catching up to do, wanting to retire at 62. I have 20% split into 401K and Roth401K. 50/50 split. My employer contribute 8% of yearly Gross. I will have a $1500/ month pension from a former employer plus I hope the max in SS benifits at 62. My current balance in the 401 K's is 30K. What income would you predict with my current plan, and should I change anything?

[Michael M]

yes.
the ira is taxalbe money and lower at the retirment age.
the 401k is deferred annually and then taxable when you being to draw.
you can have both.

[bud68]

I'm in much the same boat. I max my 401(k) and a Roth IRA. You just need to beware of the income ceilings for contributing to an IRA when you are already in a "qualified plan" (401k). If you can't contribute to an IRA, consider "tax-managed" mutual funds as a taxable investment. Also, if you can delay taking Social Security until your (our) "full benefits" age of 66, you'll get about 25% more on that score.