LogFAQs > #914149771

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Topic	Analysts are saying you literally need 1.5-2 million in savings to retire
CornBarn 12/14/18 11:51:42 PM #42:	REMercsChamp posted... CornBarn posted... $6,000 invested each year from 25 to 65 at 10% average turns into 3.2 million. So 1. Where are you getting these 10% yearly returns from 2. A lot of people don't have $6000 a year to invest There are plenty of funds that returned 10% or more on average over the last 5-10 years. And over 40 years it'd be possible to get that performance. Even if you put in less money at a lower interest rate you'd still end up with your target number. Most people earning the median income can invest into retirement if they are disciplined. People spend more than their budgeted retirement savings on more car than they need these days. <cite>CornBarn posted [p:914149771] in Analysts a... [t:77301726]...</cite> <quote><cite>REMercsChamp posted...</cite> <quote><cite>CornBarn posted...</cite> <quote>$6,000 invested each year from 25 to 65 at 10% average turns into 3.2 million.</quote> So 1. Where are you getting these 10% yearly returns from 2. A lot of people don't have $6000 a year to invest</quote> There are plenty of funds that returned 10% or more on average over the last 5-10 years. And over 40 years it'd be possible to get that performance. Even if you put in less money at a lower interest rate you'd still end up with your target number. Most people earning the median income can invest into retirement if they are disciplined. People spend more than their budgeted retirement savings on more car than they need these days.</quote> ... Copied to Clipboard!
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