The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Wyätt Gwyön who wrote (100817)	1/25/2009 9:41:58 AM
From: carranza2	Read Replies (2) of 110194

if you have 50K income and require 30K for retirement and plan on a 30yr retirement, that is 900K you need saved up. saving 10% a year is just 5K, so there's 180 yrs of savings required just to retire. It's not that dire as you forgot to compound at a safe rate, say, 3%. So, not 180 years. More like 120 years, more or less [I have not done the math]. vbg The vast majority of the middle class will not retire in any traditional way. Boomers will compete with the young for jobs at Wal Mart and Starbucks. Generational stress will be the norm. Glad I am in a profession where age, experience, reputation and accumulated 'wisdom' count for something. The US should have a class of superb geezer lawyers which will be the envy of the world.

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