4 ms·

Pensions, 401(k)s, and most saving for retirement are not necessary. Just Roth IRA and compound interest. All one needs to do is save an extra $450/mo after t

by ixacto 9y ago

Pensions, 401(k)s, and most saving for retirement are not necessary. Just Roth IRA and compound interest. All one needs to do is save an extra $450/mo after tax starting at age 22, put that into Vanguard VFIAX or similar for the next 40 years. That will give you a few million at retirement...tax free assuming the market continues to act how it has acted for the last 50 years. Combine it with social security and retirement will be manageable for most. Spend the rest of your salary on hookers/blow or iPhone game microtransactions, it doesn't matter. The problem is the lack of financial education and ethic in the population.

Broken_Hippo 9y ago
Or some of the problem could be the $450 per month. At 22. In indiana, that's a rent payment. A car payment. You might not even be done with school let alone getting a decent enough job to be able to afford this on top of your rent, transportation, and student loan debt. You are worse off if you didn't go to school or if you are working on a masters (or higher). All the financial education in the world won't make these ends meet for most folks.
- loco5niner 9y ago
  > A car payment. > $450 per month. At 22. Well, there's your problem