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?
Which brings me to the question. Make it mandatory? SSI is mandatory. Replace/switch it? Nov. 4 will get us closer to an answer.
Dave Ramsey’s research is finding a lot of millionaires ARE 401K millionaires. Very few have hit 10 million in a retirement account, but that will change given time.
a) when you started investing
b) how you invested it