Sure, who doesn't. A couple of days ago I came across article called The Millionaire's Retirement Plan. Now that is a plan I would love to pieces if and when it comes together!!!
"If you're just entering the workforce, retirement probably seems like a lifetime away. A million dollars by retirement? That's someone else's dream, right? It doesn't have to be. Here is the millionaire's retirement plan. For these calculations, assume an average annual return of 8%, adjusted for inflation at 3% - a reasonable estimate of average market returns".
My only question is what does a million dollars get me when I am sixty five (which is now only thirty five years away!)
If we look back 35 years, sure a million dollar retirement might have been very nice, but seriously what does that get me. I know that it gives me piece of mind to at least be able to have that option, and I know that if I was smart enough to make it that long, then I should be able to make that million dollars sing and grow a little after I retire. Right? Who knows?
Wait, do any of you know? Are any of your nest eggs at where they were supposed to be 35 years prior and if so, did you have to do anything different to maintain that nest egg?
As always, thank you...The Runner
Keep up sending the information.
ReplyDeleteWill do, thanks and keep commenting!!!
ReplyDeleteWow, a million dollars doesn't really seem like alot of money. I know many don't think that Social Security will be around when we retire, but I don't think it's going anywhere. I see it as...as long as your house is paid off and you have very little debt, SS and a little nest egg of $1M, will still allow you to live the latter part of life comfortably. I think the tough part is getting everyone that is 30 yrs old to see the big picture and how consistently investing a little now will pay off tremendously in the long run. Great topic!
ReplyDeleteThanks, and yes, hopefully we can show people that looking at the big picture early will definitely pay off in the end!
ReplyDeleteThanks!