Most of these numbers are based on a starting age of 26. Keep in mind the average mutual find backed IRA probably yields between 1 - 4 % and that historically inflation has averaged 4% annually if you are going by numbers published by the fed which contrary to popular belief do not represent purchase power lost, not by a long shot. Im not saying dont save. Im just saying if you can save more you should because your not going to retire a millionaire based on government figures and surely not in reality.
Posted on: Fri, 31 Oct 2014 17:18:16 +0000
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