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Topic	If you simply maxed out your 401k and did nothing else, u'd retire a millionaire
NoxObscuras 02/27/24 1:00:57 AM #29:	TheMaddenDude posted... If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire. 65k? Your numbers are way off. That's $30 an hour. Minimum wage right now is $16 and in April it goes up to $20 for fast food workers. At $20, they'd be looking at $2700-2800 take-home per month. I don't think many at that point could afford to put 30% of their income into savings. --- Steam/Xbox/PSN = NoxObscuras Z490 \| i9-10900K \| EVGA 3080 FTW3 Ultra \| 32GB DDR4 3600 \| 4TB SSD <cite>NoxObscuras posted [p:979065319] in If you sim... [t:80706279]...</cite> <quote>TheMaddenDude posted... </cite><quote>If you live in california for example, minimum wage will get you like 65k per year. You will have to live in a less expensive area, but there are plenty of nice areas that are not stupidly expensive. So with that 65k if you simply put in 10k per year into retirement, and live off 55k gross salary, you'll retire a multimillionaire.</quote>65k? Your numbers are way off. That's $30 an hour. Minimum wage right now is $16 and in April it goes up to $20 for fast food workers. At $20, they'd be looking at $2700-2800 take-home per month. I don't think many at that point could afford to put 30% of their income into savings. --- Steam/Xbox/PSN = NoxObscurasZ490 \| i9-10900K \| EVGA 3080 FTW3 Ultra \| 32GB DDR4 3600 \| 4TB SSD</quote> ... Copied to Clipboard!
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