3 ms·
It would only be below a million if you stuck your money in a savings account. If it's in an investment account, after 30 years at 7% growth per year and $20k d
by TheAdamAndChe 10y ago
It would only be below a million if you stuck your money in a savings account. If it's in an investment account, after 30 years at 7% growth per year and $20k deposited per year, you should have $1.87 million dollars saved. Which isn't tons when you consider inflation, but it's definitely better than what you're suggesting.
- toomuchtodo 10y ago7% returns are unrealistic moving forward; I would target ~5-6%. CalPERS came to this conclusion a few months ago, and they're a bit behind the rest of Wall Street when it comes to returns estimation. http://www.cnbc.com/2017/02/08/calperss-sees-58-percent-return-with-new-allocation-below-7-percent-goal.html http://www.cnbc.com/2017/02/08/calperss-sees-58-percent-retu... Some Wall Street veterans are predicting returns even lower. https://www.bogleheads.org/wiki/Historical_and_expected_returns https://www.bogleheads.org/wiki/Historical_and_expected_retu...
- TheAdamAndChe 10y agoThis honestly doesn't surprise me. The fact that tons of men aren't working anymore is an indicator that the old methods of maximizing productivity by lowering wages and increasing hours isn't going to work as well in the future.