Just waiting for a CNBC report on --- "you need way more than a million dollars to retire on".... will be interesting to see what they say.
I have been saying this for a long time... A guy can only make 5% or so on a million bucks -- that's 50 grand a year GROSS.... you will be paying taxes on that gross! 50 grand a year -- is now NET 40 grand or less depending on where you live. Add some Social Security -- and factor in INFLATION.... Retirement isn't going to be the golden years. You're going to need a RISING income -- and capital growth... in order to live for an additional 20 plus years after retirement.
I know this info sucks - but facts sometimes suck.
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