Reply to And that’s the $5M point

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[quote=Anonymous][quote=Anonymous]These numbers are mostly made up I think.  Certainly not representative of the majority of folks.  Most people would be lucky to have $500,000 when they retire. [/quote]

+1 OP is lying. Probably crossed the $500K mark and added a 0 at the end to try to impress.

Even if OP has been dollar cost averaging into the S&P 500 for the past 30 years nonstop, she would have to have been contributing $3,500 per month for that entire time to have $5M today.I seriously doubt she was investing $42K per year in the stock market when she was 17!!

If she started later or accelerated contributions as she got older, her story is even more implausible. If she started saving just 5 years later for 25 years straight, what would have been $3,500 per month would instead have to have been $5,500 per month. Didn’t know too many 22-yo people in 2001 that were fresh out of college and able to sock away $66K per year. That’s like $130K in today’s dollars with inflation adjustment.

Nice try, OP![/quote]

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