I'm 29 with $45k in my 401k and the calculators are telling me I'll have $4 million by the time I'm 65 - is that really accurate?
Briefly

from 24/7 Wall St.3 weeks ago
Funding a 401(k) over a long period of time could make you a millionaire several times over, especially when capitalizing on the power of compounded returns.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/14/im-29-with-45k-in-my-401k-and-the-calculators-are-telling-me-ill-have-4-million-by-the-time-im-65-is-that-really-accurate/
While a $4 million retirement fund seems impressive today, inflation could significantly erode its purchasing power by the time you retire decades from now.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/14/im-29-with-45k-in-my-401k-and-the-calculators-are-telling-me-ill-have-4-million-by-the-time-im-65-is-that-really-accurate/
Many individuals in their 20s find it challenging to max out their 401(k) contributions due to lower income levels and existing financial obligations like student debt.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/14/im-29-with-45k-in-my-401k-and-the-calculators-are-telling-me-ill-have-4-million-by-the-time-im-65-is-that-really-accurate/
Maintaining a consistent savings rate of 10-12% into a 401(k) and achieving strong investment returns can lead to substantial wealth accumulation in retirement.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/14/im-29-with-45k-in-my-401k-and-the-calculators-are-telling-me-ill-have-4-million-by-the-time-im-65-is-that-really-accurate/
Read at 24/7 Wall St.
#retirement-planning #401k-savings #investment-strategies #wealth-accumulation #inflation-impact
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