Well, the 403(b) route has worked for me so far, with $ 820,000 K in the kitty at age 59. I started contributing at my first professional job at age 26, did matching, and never had to take a loan from the plan. Having said that, I realize full well that a substantial market downturn in the next several years could gut my retirement plan like a trout. I am now pondering the concept of at the time of retirement, taking $ 100 or 200 K and buying a single payment fixed annuity, and am thinking about immediate payout vs. deferred payout vs. survivor benefits vs. return of principal. Since I have never had a pension, this would give me some of the security of a fixed payout not dependent upon market return. The current interest rates and rates of return on a fixed annuity are still not what I would want them to be, but I would be hedging against that downturn.