Quote:
Originally Posted by PilotAlan
The market has never gone to zero, or anything close to it. If it ever did, every form of retirement would be gone (including Social Security), because the government and country are bankrupt. Yes, a recession can hurt you, but you're ignoring the decades of good rates of return before and after.
The rate of return on the Dow Jones has provided the best rate of return over any 40 year period for any investment anywhere, ever. Including the 40 years with the Great Depression in the middle of it.
Even a relatively low income worker, if that 16% of their income was invested in market-tracking mutual funds, would be a multi millionaire by their 60s.
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Only 15.3% and that was only recently.
The amount of income taxed is capped. Cap was $110,000 in 2012 and $176,000 this year.
An individual who retired with an above average salary would have achieved just under $1M, not multi-millions.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
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