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Reply to "Twentysomethings, how much do you have in savings?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]29 trust fund baby (sorry) retirement is already funded, homes were bought in cash. [/quote] 36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.[/quote] NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded" [/quote] It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics). And that initial $100,000 could be just two or three years of public school vs. private.[/quote]
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