Reply to Is saving/investing actually a crappy way to get rich?

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[quote=Anonymous][quote=Anonymous][b]The expectation you can work for 20 years and then not work for 30 or 40 off savings from those 20 is a little ridiculous. [/b]

It’s also why saving *anything* in your 20s is highly recommended. And why I plan to give my kids a brokerage account with a couple hundred thousand dollars when they graduate college. [/quote]

Yes, I agree it’s not the norm, but it’s also not the norm to save ~50% of a decent salary.  What’s the average salary of someone who saves $100K per year? My guess would be probably around $400K.  I really thought I’d be able to “jump the line” by saving more aggressively, and it’s disappointing that this may not be the case.

Though, as others have said, it’s very possible that my simplistic calculations on the app are incorrect. I’m going to run the numbers on a more detailed program when I have the time.  Or if any of you Excel wizards would like to help me out, I would greatly appreciate it – $100K savings per year (with slightly higher contributions each year to account for inflation-matching salary increases), 20 years, 8% return, 3% inflation, and a reasonable approximation for taxes along the way.

To the PP that said that my numbers must be off because $100,000 x 20 = $2 million alone with no growth, that’s true if inflation and taxes don’t exist—but so much of investing seems to be about just keeping ahead of those two things.[/quote]

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