It is possible to save too much for retirement: Allison Schrager

Allison Schrager advises a hesitant colleague on navigating 401(k) contributions, stressing the importance of starting early but cautioning against overcommitment. She argues that while saving for retirement is crucial, balance is key, encouraging flexibility to enjoy life while securing financial stability.

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By Allison Schrager

A young colleague came to me recently with a shameful admission: Despite the lecturing of her friends and family, as well as her own best intentions, she had not yet signed up for the company 401(k) plan.  She lives in an expensive city, and is nervous about tying up her money for the next 40 or 50 years.

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