A new survey shows the significant gap between how much millennials expect they need to retire ($1.7 million) and what they’ve roughly saved so far ($63,000)
Also $1.7m today is like $4m by the time millenials hit retiremwnt.
My company’s 401k person came in to sell their wares, and I did that inflation math in front of them. I think I made a lot of employees afraid for their future.
If you put your money in index funds, you can expect it to beat inflation by about 7-8% on average, especially over the course of a decades-long working career. It’s usually not worth it to ever look at the non-adjusted projected value.
I thought I was doing well and that I had a chance, but saving multiple millions for retirement sounds impossible. If I want retirement, I’ll probably have to move to a low cost-of-living country.
Also $1.7m today is like $4m by the time millenials hit retiremwnt.
My company’s 401k person came in to sell their wares, and I did that inflation math in front of them. I think I made a lot of employees afraid for their future.
If you put your money in index funds, you can expect it to beat inflation by about 7-8% on average, especially over the course of a decades-long working career. It’s usually not worth it to ever look at the non-adjusted projected value.
I thought I was doing well and that I had a chance, but saving multiple millions for retirement sounds impossible. If I want retirement, I’ll probably have to move to a low cost-of-living country.
63000 saved?? Yeah sure. Just checked my bank account and I got a whopping $27 in the savings account.
Im guessing they used avg and not median
So If I rob a bank 6 times, I could reach the average savings?
better off robbing poor people, less likely to get investigated
I don’t think they got enough to steal.