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Originally Posted by MikeSmoke
Not to say anything about his specific numbers or plans or assumptions on interest rates, future income, etc.....
But there is an important lesson here.
If you start putting away for retirement when you're in your 20s and you'll have decades of compound interest to work with, you will have a MUCH happier life later on. I didn't start until my late 40s, and in order to try to put away the kind of money he's talking about into for retirement (e.g. 10+ mil to retire on) - it's a bitch.
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Agreed on the important lesson. I learned, early on, that Social Security is not something anyone should count on....and began investing very early.....
When my son was born, we began investing for him..not much, but it's been steady....
The market goes up. The market goes down...but, over a thirty year period of time, invest smart and there will be money....there are also other fairly safe ways to invest...the important part is do it for the long term, not the short..especially if you don't have nerves of steel.....
My personal favourites are dividend bearing stocks, like Pepsico and Dow....they just roll along....year after year...very steady and fairly safe...