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Why would I trade $10,000 of purchasing power today for $6698 of purchasing power in 10 years? What possible upside is there from this?
by sidewndr46 4y ago
Why would I trade $10,000 of purchasing power today for $6698 of purchasing power in 10 years? What possible upside is there from this?
- WalterGR 4y ago10 years is an artificial horizon. I chose it because it's the number of fingers and toes we have, and most people won't invest for 100 years. The article is about retirement and how some generations aren't saving for it. How, then, are you going to use that purchasing power today to help yourself in 40 years, with the caveat that you can't save that money for retirement?
- sidewndr46 4y agoIn general, my observation is that retirement is either a fairy tale or for those who are incredibly rich. I have plenty of savings, but I never expect to be able to retire. There is simply no way I could ever have enough savings for it to amount to anything. The last time I did the math was pre-COVID and I estimated I'd need no less than $4 million to retire. Unless you count working until I am physically unable to work any longer, then living a very meager existence for a few short years and dying. That I fully expect.