Skip to main content
  1. News
  2. Business & Finance
  3. Personal Finance

Sound retirement advice from a great boss...with Good Humor

See also

David Mahoney ran some top-rate companies, from Avis Rent-A-Car to Hunt Foods to Good Humor. He was smart and caring enough about his employees, because he knew those stressing out about money are less happy--and less productive. Capital Region families could wish for a such a boss giving sound advice about their benefits and retirement.

David would have one blunt message to workers: It’s up to you to fund your retirement. While he gave his workers a generous head-start with a 20 per cent employer contribution to his companies’ 401(k) plans, he knew that more needed to be done to get workers and their families to retirement.

Among some of the advice David would offer families:

  • By 2037 there may be only enough money to pay about 76 cents on the dollar of scheduled Social Security Benefits, according to the Social Security Statement.
  • If you have a 401(k), or 403(b) or other employer-sponsored plan, and the company matches any contributions, take it. But look closely inside your plan to see where your money is being invested.
  • To supplement whatever plan you have through work, consider opening an Individual Retirement Account (IRA)
  • Traditional IRA, Deductible. Saves you money by giving you and your spouse the potential to contribute $5,000 each (if you meet certain requirements) off the top of your gross income, which reduces your taxable income. You postpone payments of taxes on any earnings until they are withdrawn at a date in the future, commonly retirement.
  • Traditional IRA, Non-deductible. If you exceed certain income limits, your Traditional IRA contributions may not be deducted from your current tax bill. However, your non-deductible contributions will grow on a tax-deferred basis. So, even though you weren’t able to deduct your contributions, more of your money is allowed to grow and compound than if taxes were taken out of your account each year.
  • Roth IRA. Contributions are made with “after-tax” money. However, when you withdraw the money from a Roth IRA, none of it will be taxed!

Have you calculated how much money you’ll have to save in order to maintain your current lifestyle once you retire? If you’re like most people, you haven’t. In fact, 42 percent of Americans have GUESSED at how much money they’ll need in retirement. Corporate good guy David Mahoney would sit down and give you this advice for free…and throw in a Good Humor bar for good measure.



  • Mt. Everest avalanche
    Disaster strikes Mt. Everest as at least 12 people were killed in an avalanche
    Watch Video
  • Most Earthlike planet discovered
    The Kepler telescope has discovered the most Earthlike, possibly habitable planet yet
    Space News
  • Easter crosses create debate
    Easter crosses spark a debate of separation of church and state in Ohio
  • Chelsea Clinton is preggers
    Former first daughter Chelsea Clinton is pregnant with her first child
  • Stanley Cup playoffs
    The battle for Lord Stanley's Cup is on, don't miss a minute of playoff action
  • Ukraine discussed amongst U.S., E.U., Russia
    The U.S., E.U. and Russia agree on ways to diffuse the tension in Ukraine
    Watch Video

Related Videos:

  • Office building
    <iframe width="420" height="315" src="//;autoplay=1"></iframe>
  • How New Trend Toward Investing in Human Capital Could Help TX Students
    <iframe width="420" height="315" src="//;autoplay=1"></iframe>
  • New jobs coming to Schenectady
    <div class="video-info" data-id="518166850" data-param-name="playList" data-provider="5min" data-url=""></div>

User login

Log in
Sign in with your email and password. Or reset your password.
Write for us
Interested in becoming an Examiner and sharing your experience and passion? We're always looking for quality writers. Find out more about and apply today!