ilmscore | Why Your 401(k) Won’t Be Enough for Retirement—And What to Do About It

Why Your 401(k) Won’t Be Enough for Retirement—And What to Do About It

Published: 2024-10-22

Status: Analyzed

Predictions from this Video

Total: 7

Correct: 0

Incorrect: 0

Pending: 7

Prediction

Topic

Status

In 2025, Social Security recipients will receive a 25% raise, which will not keep pace with inflation.

"in 2025 Social Security recipients are going to be receiving a 25% raise which really doesn't keep up with inflation for the average person"

Pending

Investing $100 per month for 30 years at a 7% annual return is projected to result in approximately $121,000 at retirement.

"if you were to invest $100 a month for those 30 years at 7% you would have about $121,000 when it comes time for you to retire"

Pending

Investing $500 per month for 30 years at a 7% annual return is projected to result in approximately $66,000 at retirement.

"if you invest $500 a month now you'd have closer to $66,000 when it comes time for you to retire"

Pending

Investing $1,000 per month for 30 years at a 7% annual return is projected to result in approximately $1.2 million at retirement.

"if you invest $11,000 a month now you'd have about $1.2 million"

Pending

Investing $2,500 per month for 30 years at a 7% annual return is projected to result in approximately $3 million at retirement.

"if you invest $2,500 a month well now you'd have around $3 million when it comes time for you retire"

Pending

A 1% annual fee in a 401k could result in losing approximately 28% of total investment value over the long term.

"a small 1% fee could end up costing you close to 28% of your total investment value"

Pending

A 1% fee on a $1 million investment account could lead to over $250,000 in fees paid.

"if you were going to have a million dollars in your investment account you might be paying over $250,000 in fees because of the small 1% fee"

Pending