Got a close buddy with Miami ties

gtphd said:
How is it possible to retire with less than $1 MM? 401k + house should get most people there pretty quickly.
Click to expand...
gtphd said:
Honestly, how do you retire at today's investment returns with less than $1 million? Assume a 4% ROI and $17k from Social Security, that's a $57k / year income. That's doable for a family of 2. Below $600k in retirement savings and you're living in poverty.
Click to expand...

The only thing you got right sheltered rich boy is "... living in poverty."

How can "+ house "get people to 1 MM? When the facts are only 62.9 percent of U.S. households were owner-occupied residences and the median home value in the US is $200,000. On top of that homeowner equity has fallen steadily since World War II and is now less than 50% of the value of homes on average. For the 37.1 % who don't own homes and the majority of homeowners that owe half or more of the value of their home, that is worth less than $200,000, there is no plus. That majority of Americans don't and will never have anything near 1/4 MM in there lives. Do you think they have 1 MM in their 401(k)? You, I, and others on this board are fortunate to have the education and opportunity to earn, save, invest in pursuit of our dreams but MOST Americans simply aren't that fortunate.

I don't post much and not sure why I responded to this other than it really gets under my skin when people assume everyone else is as well off as they are. There are an unfortunately large number of people struggling in this country.
 
8578ACB3-12E9-48E4-B0CF-D54341BDAC2C.jpeg
coit said:
I love mine!
Click to expand...
I like mine too!
 
You must log in or register to reply here.
Back
Top