re: "If You Have Savings In Your 20s, You’re Doing Something Wrong"

quote:

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$700K won't be worth shite in the 40 years until I'm 65. I have a Roth IRA that I max out every year, but that $5,500 a year will only give me a bit over a $1 mil by the time I'm 65 1/2 which also won't be worth anything due to inflation. My generation is going to have to hope for a golden financial age of the stock market or have multiple retirement accounts to actually enjoy retirement by the time it rolls around.

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Seriously? Can't tell if you're joking or not.

Inflation will devalue that money, but if you think having an extra $1 million to your name at 65 will be worthless, you're also doing it wrong.