Posted on 04/16/2018 9:50:17 AM PDT by SeekAndFind
Do you think saving for retirement is just too tough? Think again. The number of people with 401(k) balances of at least $1 million hit a record 150,000 at the end of 2017 in plans run by Fidelity Investments. Likewise, the number of Fidelity-run IRAs with retirement savings balances of $1 million or more hit a record 152,000.
And if $1 million seems out of reach for you — at least for now — don't worry, because those million-dollar balances were part of a broader pattern of retirement savings balances overall growing to record highs.
Your retirement savings balances can join in on the fun — if you take six steps designed to maximize growth in retirement accounts, recommended by Meghan Murphy, a Fidelity 401(k) expert.
Start early.
Invest the yearly maximum.
Invest smartly. If you can't afford the maximum, at least aim for a contribution amount that will trigger the largest company match offered.
Invest for growth.
Stick to your plan. Do that by rebalancing periodically.
Use target date funds. That's especially important if you can't make appropriate investment decisions for yourself or don't want to try.
(Excerpt) Read more at investors.com ...
I would think that would be all that was needed, but even it it wasn’t they had years to prepare something that ticked all the boxes. I will be glad to see Paul Ryno gone.
forget failed state minorities
How many whites in America spend all day
Collecting disability
Getting pain meds to sell and save a few for personal use
Wear pajamas all day especially women
No make up ever and grungy dark circle eyes sloven ..women
Hair always tied up or slicked back Afro style.....women
Afro style eyebrows...very thin yet stark and dark.....women
Grossly fat...waddling about sumo wrestler eyes....women and some men
Most of what they own in their car piled up except the big screen which is the modern equivalent of a welfare Cadillac
Greasy tattoos ...men and women
Several illegitimate children or of a man the same but which the father contribute nothing to his spawn but his sperm
Very little real work....maybe fast food or Americorp style grift
I can’t speak for everywhere but between rural south and rural Midwest and rural west and northern Michigan I see tons of whites like this
A sizable minority
Enough to be a drag on any culture and nation
This simply did not exist amongst poor whites when I was a kid 1960s 70s
Rednecks and poor folks but little trash
Now toss in the dysfunctionality of blacks and many Latinos and you’ve got s problem
Working family oriented whites and most Asians or orientals keep the country going now
It’s the new America
Numerically though the biggest non contributor group now is lazy fat illegitimate spawning whites...no question
What will be the cost of that down the road..tell me
Young folks here don’t know any different
Most people have no savings or assets besides their car or home...a stock portfolio is for professional class or workers with vested retirement plans
Sounds like my neighbors when I was a kid in the 60’s. They had a small dairy farm and all his tractors were the hand-cranked type; he purchased them in pieces at an auction and put them all together himself. He earned the money to buy the farm during WWII; he was a Marine in the Pacific island-hopping campaigns and was quite the poker player.
My story about the guy I know.
He never worked for anybody but himself, had a number of businesses as a fashion photographer, audio equipment designer, recording engineer, then owned a large photographic processing plant. Sold his last business for 2 or 3 million in 2003, bought a lot of Apple, Google, and Amazon.
The good news is obvious but the bad news is ominous
The bad news is there are also record numbers of Americans who have less than one months savings for retirement and are living pretty month to month and many often have negative net worths due to credit cards or other forms of debt.
A further signal that America is migrating to the Third World model of a small, well off upper class, a depleted middle class and a large underclass of traditional poor and the increasingly marginalized ex members of the middle class falling into the marginalized category as the government sanction destruction of the middle class continues to take it's toll
The good news is obvious but the bad news is ominous
The bad news is there are also record numbers of Americans who have less than one months savings for retirement and are living pretty month to month and many often have negative net worths due to credit cards or other forms of debt.
A further signal that America is migrating to the Third World model of a small, well off upper class, a depleted middle class and a large underclass of traditional poor and the increasingly marginalized ex members of the middle class falling into the marginalized category as the government sanction destruction of the middle class continues to take it's toll
In 2020, I'll be one of those "retirement account millionaires" ... you can bet I'll take it very personally.
This does work and right now, rent is a better return than bank account interest, (and often beats the stock market too). However I recently divested of our real estate holdings, because I was getting too old and tired to manage them and hiring a manager would give someone else the return that I was seeing.
Besides, I believe Trump is doing the right things to nudge the stock market into high gear. Of course there is always a risk so I stay half in fixed investments and half in stocks.
Thanks, Sam. Nice story.
I seem to remember something similar being floated in the Bush years.
Here is another point to make
- Don’t marry a crazy ass bitch who will take you retirement savings in total or she will file a fake “Restraining Order” against you if you don’t do what she says.
I had to basically start over saving for retirement in my mid 40’s.
Not this retired American.
I had the same question but with one modification. Was she happy too. It’s one thing to have a bundle of money and yet really never enjoyed it.
I have no savings account, no property, no stocks, bonds. I own a 2005 Nissan Altima that I'm hoping will last until I die. I have $50,000 life insurance that will be split between my two sons. I'm worth more dead than alive.
My 401(k) is invested in the stock of the company I work for. How would Warren force me to invest in her annuities without selling my company holdings?
What would that do to my company's assets if shareholders were all forced to divest in order to fund government annuities? Who would be the buyer of a forced sale, the government? Wouldn't that be a de facto nationalization of companies whose workers invested their retirement savings?
-PJ
Mmmm I’m gonna buy what I want. Not gonna scrimp and save so that my kid gets it all. I’ve already told her that.
....Elizabeth Warren thinks your 401k funds should be invested in annuities managed by the federal government.....
well if Congress had invested Social Security funds instead of spending them, it might not be broke.
....Elizabeth Warren thinks your 401k funds should be invested in annuities managed by the federal government.....
well if Congress had invested Social Security funds instead of spending them, it might not be broke.
I would most definitely find a way to move from the country and take what I earned and saved with me before letting the absolute scum of the Earth parasites that are politicians (particularly Democrat politicians) take it from me in order to pay off debts they created. What would be different at that point than having the Venezuelan government confiscate private property, wealth, businesses, and factories? It would have the same affect in America as it has had in Venezuela.
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