Comments on: The Magical Age of 26 http://www.myretirementblog.com/the-magical-age-of-26.html Retire happy, healthy and wise. Thu, 28 Aug 2008 17:32:55 +0000 http://wordpress.org/?v=2.6.1 By: jeff http://www.myretirementblog.com/the-magical-age-of-26.html#comment-65080 jeff Thu, 07 Aug 2008 10:50:16 +0000 http://www.myretirementblog.com/?p=295#comment-65080 Think you are missing the point retirehappy - what is "considered unattainable value or at least difficult" is retiring with the security that 1 million dollars of retirement buying power and security gets you. Adjusted for inflation that 26 year old will be poor in retirement very quickly. Poor analogies - we're comparing apples to oranges here - it's not helpful and is even misleading to 26 year old that you just told to max out for one year and they'll be millionaires. You are dangerous. Think you are missing the point retirehappy - what is “considered unattainable value or at least difficult” is retiring with the security that 1 million dollars of retirement buying power and security gets you. Adjusted for inflation that 26 year old will be poor in retirement very quickly. Poor analogies - we’re comparing apples to oranges here - it’s not helpful and is even misleading to 26 year old that you just told to max out for one year and they’ll be millionaires. You are dangerous.

]]> By: retirehappy http://www.myretirementblog.com/the-magical-age-of-26.html#comment-64667 retirehappy Fri, 11 Apr 2008 18:08:38 +0000 http://www.myretirementblog.com/?p=295#comment-64667 That is very true, inflation is vicious; the main thrust of this article was that $1M, which many consider an unattainable value (or at least difficult), is certainly within reach. That is very true, inflation is vicious; the main thrust of this article was that $1M, which many consider an unattainable value (or at least difficult), is certainly within reach.

]]> By: Trent Hamm http://www.myretirementblog.com/the-magical-age-of-26.html#comment-64665 Trent Hamm Fri, 11 Apr 2008 10:05:06 +0000 http://www.myretirementblog.com/?p=295#comment-64665 The only problem is that $1 million in retirement for a 26 year old is far less money than $1 million in retirement for a 52 year old. Thank you, Mr. Inflation! Let's say you're going to retire when you're 70 and inflation is 4%. For a 52 year old, that means retirement is 18 years off. $1 million on his retirement day is worth $493,628 in today's dollars. For a 26 year old, that means retirement is 44 years off. $1 million on his retirement day is worth $178,047 in today's dollars. Any 26 year old is going to need to save for multiple years to retire. The only problem is that $1 million in retirement for a 26 year old is far less money than $1 million in retirement for a 52 year old. Thank you, Mr. Inflation!

Let’s say you’re going to retire when you’re 70 and inflation is 4%.

For a 52 year old, that means retirement is 18 years off. $1 million on his retirement day is worth $493,628 in today’s dollars.

For a 26 year old, that means retirement is 44 years off. $1 million on his retirement day is worth $178,047 in today’s dollars.

Any 26 year old is going to need to save for multiple years to retire.

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