Quote:
Originally Posted by slapass
Assuming I can make 10% on my money, how the fuck do you store up ten times your yearly salary? Even if you bank 50% of your income it will take about 15 years with interest to store 10 times your yearly.
I make good money, and I always feel broke. I save a ton and invest in real estate. the returns are nice but I would to invest so damn much to make what I do now it is insane.
 |
Actually you should only need around 11 years if you save 50% of your income.
If you're saving it, you'll probably be getting the same 10% you expect to get after retirement, compound that and you'll have 10 times you annual salary in 11-12 years
Now the real problem with saving just 10 times your annual salray and retiring is that if you take into account inflation you'll probably need more than that (taxes should also be accounted for).