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To: tbw2

A million ain’t what it used to be. It takes 1.6-mil to buy what a mil bought in 1996.


7 posted on 09/11/2020 7:19:21 PM PDT by wny
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To: wny

IRA’s came out in 87’. $2k limit. Today 401K’s are limited to what-$18k? Therefore we can guesstimate what the richest IRA/401k saver can have. So tell me. What is it?


9 posted on 09/11/2020 7:27:46 PM PDT by DIRTYSECRET (urope. Why do they put up with this.)
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To: wny

That may seem like a long time ago but by that time I was more than half way though my journey to today even from the time I became an adult. Crank up the way back machine to pre-Arab oil embargo. In the 60s it meant something to be a millionaire. In the lat 70s even $40,000 a year was considered a handsome income. It would take $6.8 million to have the same buying power as $1,000,000 in 1970.

Today a million is an OK start but something most will never achieve ‘cept for by pensions and defined benefit retirement plans.


12 posted on 09/11/2020 7:37:49 PM PDT by Sequoyah101 (We are governed by the consent of the governed and we are fools for allowing it.)
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