“The subject article, written by me, is based on the personal experience I’ve had and witnessed. 25 years ago, my corp switched from pensions to 401ks. I was told - invest 15% of your salary, and you’ll be a millionaire by 2011. I invested, but I only have $400,000, which is not enough to retire on. I feel a little cheated. So do most of my co-workers and people of my age. I’m being meant to feel that I am a failure for not chosing my investments wisely, but every expert said back then - stocks are the best in the long run! “
Odd. I started my 401K in 1980. Closed it out last year at 800K. Today it’s about 1Mil. I guess I’m just a lot more aggressive. My 401K was always in high growth funds but now I sell naked puts on DOW stocks and any stock with weekly options. If one gets assigned, I switch to covered calls. My target is to make 12% per year. I’m doing much better than that. My SS check is 2500/mo. Mt IRA earns about $15,000/mo. In the last 3 months I made $14,000 selling options on a single stock.
I think a 401K can make you a millionaire.
Your 401K has been invested six years longer than his. At the rates of return you are indicating, his might double in that long of a period.