Quote:
Originally posted by Moneyguy1
I have worked out some financial plans for people over the years, and it begins to look impossible for the typical Joe Sixpack making 50k to 60k per, with 2 kids and a mortgage to ever save or invest enough to be comfortable.
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I think that is wrong. If one saves 10-15% of pretax income at a reasonable rate of return, one can have a nice nestegg. I have a spreadsheet that uses minimum wage, 12.1% of income, invested tax-free, in 10 yr treasury bonds. After 40 years, it is not quite possible to retire and live off the funds, but it is close. I think a family with 50-60k combined income should be able to accomplish this easily, assuming they don't buy unnecesary toys. I think it's an issue of 'I won't' instead of 'I can't.'