New answers tagged retirement-plan
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Well, $20000 a year for 43 years is $860000. In today's dollars that amount of money at 3.5% dividend produces an annual income of $30100.
If the investment only keeps up with inflation through the 43 years, it will pay an annual income in future dollars equal to the buying power in today's dollars of $30100. The future dollars will be a bigger number than ...
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In my opinion it's not possible to contribute too much to a 401K. (Unless you don't have enough money left over to pay your bills.) The max you can contribute in 2020 is $19,500. The main reason to contribute to a 401K is because of the tax savings. You can choose to put money into a traditional 401K and pay less taxes this year by deferring that tax, and ...
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