Quote:
Originally Posted by Bill14564
An individual who retired with an above average salary would have achieved just under $1M, not multi-millions.
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I asked AI to use the average income (about $66,000) and to invest it for 43 years (age 22 to 65) at various rates of return.
According to AI, investing 15% of the average income annually at a 7% return for 43 years could grow to approximately $2.81 million.
A more conservative return (e.g., 6%) would yield around $2.2 million, while a higher return (e.g., 10%) could push it toward $4.5 million.
If the worker made $33,000 a year, a 7% return for 43 years could grow to approximately $1.39 million.
A more conservative return (e.g., 6%) would yield around $1.09 million, while a higher return (e.g., 10%) could reach about $2.23 million.