Way back in 1999 I received sales pitches from a half dozen investment advisors with charts that showed my initial investment would grow at 8% per year until social security kicked in. The portfolio would be valued at $1,000,000 by then. Surprise! It never reached that valuation with the biggest hit during the Great Recession. Actually the best performance longer term was the 6 1/2% per year return for five years when my retirement money was in an American Skandia variable annuity. American Skandia was one of many investment scandals over the past twenty years.
I’m thinking the best chance at becoming a millionaire is buying a half million dollar starter home in California. Once the valuation reaches a million, cash out and retire to The Villages.
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