Need $3M in Retirement Savings To Live Comfortably https://www.gobankingrates.com/retirement/planning/gen-z-and-millennials-need-3-million-in-retirement-savings/ TC: below the poverty line
This article is dumb. And 500k by 25?? That's crazy high.
“You MUST save 500k in your first 3 years of working or you are falling behind! Oh but then you have 15 years after that to save up the next 500k.”
It’s dumb af. $500k by 25, but $1M by 40? So I’m supposed to save $500k after taxes in 3 years of working, but have another 15 years to save the other $500k?
It’s crazy how cheap you can live if you own a home out right. That’s the real retirement goal in my opinion.
Fake news
Yawn. Who tf doesnt have 3M by 40? 15M is the retirement number imo, and that is BARE MINIMUM
Msft pays that well? You need at least 300k tc to save that much
Apparently the reporter had to ship an article to avoid pip
Nah, the article is wrong. The author meant you must have 50 mil by age 25, then spent next 20 years to get the next 50 mil
Doable, but tough imo
You can’t contribute that much to a 401k and IRA mathematically in that time. The author of that article either has zero idea wtf they are talking about or it’s a typo.
That’s insane. Everything is so freaking expensive this is impossible for most.
That has to be a typo. $500K by 25 is nearly impossible even if you’re making $300K a year right out of college. That being said, it’s true you’ll need about $3M a year to live comfortably in retirement.
3M is no where enough. Aiming to save upto 15M by the time I retire. I am 28 now. Bought a house last year and have around 400k (with the market dip) in stocks and savings.
ok
Wow, What’s your NW?