I don’t believe that would be too much of a shock. Of income earners (I know this is wealth, but wealth is correlated to income) top 10% is $150k/year. Those people can (and should) easily at a minimum be putting in $23000 to their 401k and $7k into their IRA – 30K going into savings, that’s about the income level of the bottom 30%, just going into retirement savings. Considering the bottom 50% only have on average $51,000 per household in wealth, considering a top 10% is saving that every 2 years, it’s not hard to see.
As I always remind people if you invested $20 a week in the S&P from the time you were 18 to today, retiring at social security age, you’d have over $1M. It’s not that hard, I know it’s not easy for everyone, people have sacrifices, but it’s not impossible for anyone.
Good ole Axios. Shitting on Wall Street.
So institutional investors, the folks that run retirement plans only, hold 10% of all stocks?
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I don’t believe that would be too much of a shock. Of income earners (I know this is wealth, but wealth is correlated to income) top 10% is $150k/year. Those people can (and should) easily at a minimum be putting in $23000 to their 401k and $7k into their IRA – 30K going into savings, that’s about the income level of the bottom 30%, just going into retirement savings. Considering the bottom 50% only have on average $51,000 per household in wealth, considering a top 10% is saving that every 2 years, it’s not hard to see.
As I always remind people if you invested $20 a week in the S&P from the time you were 18 to today, retiring at social security age, you’d have over $1M. It’s not that hard, I know it’s not easy for everyone, people have sacrifices, but it’s not impossible for anyone.
Good ole Axios. Shitting on Wall Street.
So institutional investors, the folks that run retirement plans only, hold 10% of all stocks?
Gotta call ‘bullshit.’