Dave Ramsey is life changing, all paid for but the house. If people would do half of what he says their lives and marriage would be better. Read a book and do a few things, but folks are lazy
This is how long $1 million in retirement savings will last in your state
- Thread starter SlugSlinger
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Dave Ramsey is life changing, all paid for but the house. If people would do half of what he says their lives and marriage would be better. Read a book and do a few things, but folks are lazy
That is a great illustration of how your money can grow and work for you. I built a spreadsheet that does the same thing and gave it to my daughter. But your link is a lot easier to visually understand.
If people would just start saving and investing when they are young, and NEVER touch the money until retirement, they would have a good savings when they do retire. I think a big problem for most people is they don't understand and realize the impact of borrowing money from your IRA or 401K. That is a huge costs when you take out the power of compounding the investment returns.
My advice is save what you can, invest in an index mutual fund that follows the S&P 500 (or any other mutual that has a good, long track record of returns), and NEVER touch it until you retire, even though its very tempting especially when the value starts to grow.
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