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Andross_Darkheart t1_jboz4gt wrote

Reply to comment by YaGirlKellie in Dow sheds 300 points as Friday’s key jobs report looms ahead: Live updates by OMG__Ponies

These are all true points. You can only retire if you have put a sufficient amount into your retirement funds. Like 6 or 7 digits.

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Aazadan t1_jbqvgoy wrote

For those in the US who can afford to put away money, the most common retirement plan, is making a median wage (so somewhere around $55k), contributing up to the company match of probably 6%, using pre tax dollars, putting it into index funds, and relying on a 4% drawdown rate.

If a 25 year old did this, and wanted to retire at 67, that $275/month contribution would get them a nest egg of $760k, which would be 30,400/year, with no room for safety with market fluctuations.

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