Quote:
Originally Posted by ITD
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 |
However this does not take under account that all the liberals and democrat socialists would then label you as "rich" and therefore you must pay your "fair share" of what you spent all your life working so hard for just to have a decent retirement. After all you didn't "earn it".
It's pure evil, but inevitably it will all crash and burn. You cannot create wealth by dividing it.