"Saving a small amount of money each month could lead to a large portfolio over time."
"Our author warns that the average monthly Social Security benefit is under $2,000, which may not suffice alongside rising living costs."
"With historical stock market trends in play, $300 invested monthly could yield about $1.2 million after 40 years, but inflation may lessen its future value."
"Investing strategically is vital; simply saving can leave you vulnerable to inflation's erosion of purchasing power."
The article emphasizes the importance of not just saving, but investing money to combat inflation for a comfortable retirement. Many enter retirement with minimal savings and rely heavily on Social Security, which often falls short due to its low monthly benefits. The example of saving $300 a month highlights how, through investment, one could amass around $1.2 million over 40 years at a 9% return, yet cautions that inflation can diminish this amount's value over time.
Read at 24/7 Wall St.
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