Quote:
Originally Posted by That Guy
Sure it is.
Invest in gold, lead, and brass.  |
Actually, if you make 80k a year, are 30years old, and were allowed to invest the 7.6% deduction in a 401k that is 6.6% matched by your employer, you would have $1.2 million in that account assuming a 5% return per year, by the time you reached 65. You could retire, use 4% of that money per year ($48,000 per year) to live off of and have double the income you get from SS. At 4% taken per year, that money should last the rest of your life plus leave a sizable estate for your heirs.
You can do the math for yourself here:
http://www.bankrate.com/calculators/...alculator.aspx