There are a number of issues with the 401k and IRA system. How do we know? Because people find the idea of someone having $1 million at retirement something to comment upon. When I’m reality, if you start saving when you get your first adult job - it’s not amazing at all.
No one is taking about guarantees. And of course the S&P 500’s return since 1980 is actually 11.945% so if someone who got their first job on 2/4/1980 and saved $83/month and retired today they would have a million dollars.
Remind me how much you have to save to have $1 million at 65. Oh right if you start at 22 and retire at 65 it’s $166/month.
He’s not talking about houses.
There are a number of issues with the 401k and IRA system. How do we know? Because people find the idea of someone having $1 million at retirement something to comment upon. When I’m reality, if you start saving when you get your first adult job - it’s not amazing at all.
Remind me what the annual investment return needs to be for that.
Oh right it's 9.5%.
Please point me to the investment that is guaranteed to earn 9.5% per year for the next 42 years. Thanks, I'll wait.
No one is taking about guarantees. And of course the S&P 500’s return since 1980 is actually 11.945% so if someone who got their first job on 2/4/1980 and saved $83/month and retired today they would have a million dollars.
DOW. No one beats the Dow Jones Industrial Average on a consistent basis. The average for the past 10 years is 11.29%.