Quote:
Originally posted by multisexsite
Thats just stupid. If you put $100k a year in the bank, yeah it would be 4 million. But if you arent dumbass, it would be over $40 million. How would $4 million even not be enough? To the average person, that is $200k a year in a simple 5% interest CD.
You'll be making twice what you made before.
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If you aren't a dumbass, right. But the average investor isn't as smart as you. The average investor can't get 9% over 40 years. Which is what I figure you'd need to have just barely 40 mil.
And I don't know why 4 mil wouldn't be enough... but it just wouldn't. I'm not smart enough to give an indepth answer as to why it's not enough... it's just not. They say that 1/3 of your life is spent in retirement. I don't know if it's possible to live on 4 mil for 25+ years. Especially when al them medical bills for all my colostomy bags come-a-rollin in. I remember sitting down with a financial advisor when we were just married. I remember him telling we'd need X amount when we retire. And it was more than 4 mil. Inflation... cost of living... medical expenses... It's just not enough. Plus, I don't want to wait till I retire to enjoy it.
Our financial education begins today. THen I'll be able to answer this more indepth.