A new survey shows the significant gap between how much millennials expect they need to retire ($1.7 million) and what they’ve roughly saved so far ($63,000)
Also $1.7m today is like $4m by the time millenials hit retiremwnt.
I thought I was doing well and that I had a chance, but saving multiple millions for retirement sounds impossible. If I want retirement, I’ll probably have to move to a low cost-of-living country.
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Did they even match? No match is madness.
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Is that vesting for each contribution? For every company I’ve worked at, it’s 0% vested until X years, then 100% immediately vested for all contributions.
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My company is similar, but over 3 years. It’s a weird way for them to save a few thousand bucks per employee who quits (since you get the full amount by the 3 year mark).
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If you put your money in index funds, you can expect it to beat inflation by about 7-8% on average, especially over the course of a decades-long working career. It’s usually not worth it to ever look at the non-adjusted projected value.
63000 saved?? Yeah sure. Just checked my bank account and I got a whopping $27 in the savings account.
Im guessing they used avg and not median
So If I rob a bank 6 times, I could reach the average savings?
better off robbing poor people, less likely to get investigated
I don’t think they got enough to steal.
