Tomorrow ill most likely write an article on how to get a million dollars in the stock market which isnt as hard as you might think if you start contributing when you are very young.
A lot of young people seem to think that a million dollars by retirement is some vast, unattainable sum that only the rich can achieve. It's important to remember that $1 now, invested properly over a course of 40+ years is likely to be worth $15+ as a conservative estimate.
If a 20 year old could invest about $60,000 present-day dollars (without any additional contributions), they're set to have a million by retirement age. For a 30 year old, present-day holdings of $130,000 (without any additional contributions) should guarantee the same.
These still seem like vast sums of money - And they are. But combining compound interest with ongoing retirement contributions should make it pretty easy for the average North American to set aside enough money for retirement if they're financially responsible.
I'm sure you'll cover it more thoroughly in your upcoming post. Looking forward to reading!
RE: The 4% Retirement Rule and How it Works