Originally Posted by
Alan Mendelson
MaxPen you are absolutely right about the 401k debacle.
I've been an active union member since 1972 and one thing I've warned about over and over again was that the demise of pensions, and the substitution of 401ks was going to kill off older Americans.
The reality is, most people with 401ks will exhaust their plans within about ten years of retirement, leaving them only with social security. I am one of the truly lucky ones who has a pension that will never be exhausted (as long as the union plan doesn't go bust). My own brother who is a wealthy magazine publisher worries that his own 401k will not be enough.
Back to the subject of APs. I did some estimating and if I decided to play like an AP with my limited knowledge of only a few games in the casinos, I would have very little income.
For example, currently my TOTAL free play from all casinos is only about $750 a month. That's it. $750 a month. Being realistic, if I could convert 90% of that to actual cash I would have enough just to pay for groceries for a week for an average couple. And then, being realistic, how many months would that level of free play last? Maybe two months more?