Average 401(k) Balance By Age (2022 Edition): Are You Behind?
Money Guy Show
00:00
Retirement Is Not Necessarily Retired
If you're a 20 year old and you start saving 25 % at 20, by the time you get to forty nine, assuming a relatively a nominal wage growth rate of one and a half %. You'll have a portfolio large enough to sustain a four % withdraw rate equal to 80 % of your pre retired income. That's financial independence that's right. Not necessaril retired. But i'm telling you now, instead of working because you're required to, you're working because you enjoy it. And then ain't so bad because i'm old. No, this is going to give you more freedom, more flexibility to live life like you want to sooner.
Play episode from 29:49
Transcript
