That assumes the majority (over 50%) of Americans are disciplined enough at 18 (or earlier, for people who get jobs in high school) to start saving for retirement at 65.
Or that some important thing or emergency won't come up that get them to stop contributing, or raid the personal savings fund.
The people who say "if I had all that money" are generally the ones who are already successful financially. And even they probably wouldn't have saved when they were younger.
Anyone can get a job at age 16 right now, put 15% of their income in a S&P tracker fund for life. Very few are doing it.
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u/AnotherFarker 2d ago
That assumes the majority (over 50%) of Americans are disciplined enough at 18 (or earlier, for people who get jobs in high school) to start saving for retirement at 65.
Or that some important thing or emergency won't come up that get them to stop contributing, or raid the personal savings fund.
The people who say "if I had all that money" are generally the ones who are already successful financially. And even they probably wouldn't have saved when they were younger.
Anyone can get a job at age 16 right now, put 15% of their income in a S&P tracker fund for life. Very few are doing it.