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Registered
Join Date: Jun 2007
Location: Lake Oswego, OR
Posts: 6,308
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Jim5545,
$1,000,000 in 40 years will have far less buying power than today.
This means your son needs to save even more.
I think more like $3MM. Rule of thumb is can I live on 4-5% of my nest egg annually?
$1MM x .04 = $40,000
If 40 years inflation erodes 50% of the buying power, can you son live on $20k a year?
This makes me want to get working!
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