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Topic	Analysts are saying you literally need 1.5-2 million in savings to retire
spanky1 12/14/18 4:50:57 PM #26:	JustMyOpinion posted... spanky1 posted... I get depressed when I think of this. I mean I've been maxing out my 401k since I was 24, I'm mid 30s now and it's only around 60k. I can't see it growing to a million. The max is like 18k a year, you've been doing it for ~10 years and only have 60k? What the heck did you invest in? My bad, I havent been doing max. I've been doing up to full company matching, not max. Giant_Aspirin posted... why that much? a ROI of 5% is pretty conservative, so even "just" $1M would give you $50k/year, which seems like more than enough. Inflation though. When you're old enough to retire, 50 grand a year won't cut it. --- https://imgur.com/DCjoiZ0 <cite>spanky1 posted [p:914130760] in Analysts a... [t:77301726]...</cite> <quote><cite>JustMyOpinion posted...</cite> <quote><cite>spanky1 posted...</cite> <quote>I get depressed when I think of this. I mean I've been maxing out my 401k since I was 24, I'm mid 30s now and it's only around 60k. I can't see it growing to a million.</quote> The max is like 18k a year, you've been doing it for ~10 years and only have 60k? What the heck did you invest in?</quote> My bad, I havent been doing max. I've been doing up to full company matching, not max. <cite>Giant_Aspirin posted...</cite> <quote>why that much? a ROI of 5% is pretty conservative, so even "just" $1M would give you $50k/year, which seems like more than enough.</quote> Inflation though. When you're old enough to retire, 50 grand a year won't cut it. --- https://imgur.com/DCjoiZ0</quote> ... Copied to Clipboard!
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