Gosh. One of the good things about the Great Recession (er, Depression II, cough) was that we didn’t have to read drivel like this.
“If you can get a 7 percent annual return on your money”
Yeah right. Good luck on doing that 30 years in a row.
Did they figure in a 3 to 4 percent inflation rate. Probably much more considering how much money dear leader is spending.
You’ll need a couple of million in 30 years when a loaf of bread to 20-30 dollars.
The choices in my 401k did not allow a 7% return every year, but a neighbor of ours that we became friendly with and represents Prime rich has done better than that for us (around 10% average I believe) with some ROTHs over the last 10 years that he set up for us. Since I left my job to be a stay at home mom I rolled my 401k over to him entirely.
Ugh, not Prime rich, stupid autocorrect. PriMerica.
I remember saying, “even if I only get 8% return on my CD’s I’ll be fine for retirement”