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Reply to "Average Person is the Richest Ever as of 4PM today "
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[quote=Anonymous][quote=Anonymous]This has been absolutely brilliant for our kids. DS is 22yo and has been maxing out his Roth IRA since 17. Currently has about $425K, almost all of which is capital gains. We fully expect he will hit the $1M mark by the age of 25. What’s exceptionally curious is that all the major investment banks are constantly advertising average household retirement savings of substantially less. How is it even possible for anyone over the age of 30 to have less than $1M in savings these days?[/quote] Maxing out a Roth IRA for 5 years can't be more than $37,500 in contributions. Investing in the S&P 500 wouldn't get you to $425k from there. What exactly is he doing? [/quote]
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