If you’re a Gen-Y’er and you:
- Plan to retire around age 65
- Have a life expectancy of 90 years old
- Consider $60,000 of annual income adequate for a comfortable retirement lifestyle (in today’s money)
Think about this…
Assuming a 3% annual rate of inflation, you will need $201,600 of annual income at age 65 to provide today’s $60,000 retirement lifestyle.
Now, here is some mind-blowing information for Gen-Y’ers to consider.
- If you choose to invest with a financial advisor over the course of your lifetime, you will need:
- Approximately $4,000,000 (yes four million) saved by age 65 to ensure that retirement lifestyle throughout your 25 years of retirement.
- That means you would need to be saving more than $1,800/month or $21,600/year for the next 40 years.
- Approximately $4,000,000 (yes four million) saved by age 65 to ensure that retirement lifestyle throughout your 25 years of retirement.
On the other hand…
- If you choose to learn how to invest on your own by becoming a Self Empowered Investor or DIY 2.0 Investor, you would only need:
- Approximately $2,900,000 saved by age 65 to ensure that same retirement lifestyle throughout your 25 years of retirement
- Which means you would only need to save less than $750/month or $9,000/year for the next 40 years.
- Approximately $2,900,000 saved by age 65 to ensure that same retirement lifestyle throughout your 25 years of retirement
Which option is more feasible and realistic to live this comfortable retirement lifestyle? The choice is yours.
Want to learn more? Check out this 5 minute video that explains the difference between these two options and demonstrates how every investor can control it.