ilmscore | Average Net Worth By Age (The Sad Truth)

Average Net Worth By Age (The Sad Truth)

Published: 2023-03-03
Status: Available | Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Unrated: 0
Prediction
Topic
Status
Investing $416/month starting at age 25 with an 8% return can lead to $1.5 billion by age 65. Procrastinating until age 35 requires investing almost $1000/month for the same goal.
"if you want to have one and a half billion dollars invested by the age of 65 you could do that by investing 416 dollars a month beginning at the age of 25 at an average of an 8 return however if you procrastinate and don't get started until the age of 35 you would need to invest almost a thousand dollars a month to reach that exact same goal"
Retirement Savings
Pending
Saving 10% of income could lead to retirement in 51 years, while saving 40% could allow retirement in 22 years.
"in order to retire for example someone who saves 10 of their income would be able to retire after 51 years will someone saving forty percent could retire into 22 years"
Retirement Savings
Pending
To support a 30-year retirement, individuals should have 25 to 33 times their annual spending invested.
"for a 30-year retirement you're going to have to have between 25 and 33 times your annual spending invested"
Retirement Savings
Pending
The average person spends $50,000 annually in retirement, which equates to $4,128 per month.
"the average person spends fifty thousand dollars a year in retirement which works out to be forty one hundred and twenty eight dollars a month"
Retirement Spending
Pending
To support retirement income needs (after accounting for Social Security and using the 4% rule), an individual would need $500,000 invested, excluding assets like a primary residence or car.
"you would need five hundred thousand dollars invested not including the value of your house car or anything else that isn't producing an income"
Retirement Savings
Pending
Spending generally decreases after the age of 65.
"spending actually begins to decline after the age of 65."
Spending Habits
Pending