Last week...my husband and I had an appointment with our broker about some of our investments...
I talked to him about our kids, who are 27 and 30...and he said to have them start their own IRAs...and at 3000 per year...by their retirement it could be 1 million...
although by then, 1 million would be significantly less substantial than now...but, it is IMPERATIVE...rather than assuming Soc. Security would be there.
He said the only way he wouldn't suggest they do that...would be if their companys offer a MATCHING 401K.
One that isn't invested solely in company stock.
Or Lotto-backed bonds.
It seems the young people are actually somewhat conservative, tuned in to savings, investments, 401K plans, etc. They know that SS is not likely to be there for them and many are looking at viable options. They now have access to the world through their keyboards and many are poised to take full advantage. They give me great hope.