How Much You Should Have in Your 401(k) - By Age
Published: 2023-07-12
Status:
Available
|
Analyzed
Published: 2023-07-12
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Individuals saving 15-20% of their gross income will be significantly ahead of their peers by age 30.
"I think if we can aspire to say maybe 15 or 20 of your gross income if you can establish that habit you're going to be light years ahead of other people by the time you're age 30."
Pending
If a person has $195,000 saved by age 40 and stops contributing but invests it at an 8% average S&P 500 return, they will accumulate $1.55 million by age 67.
"if you even stopped contributing altogether to your retirement portfolio at age 40 but you still invested it into the market and averaged an S P 500 return of eight percent per year you'd actually have 1.55 million dollars by the time you retire at age 67."
Pending
If someone invests $2,500 per year at an 8% average S&P 500 return, they will accumulate close to half a million dollars by age 65.
"Even at twenty five hundred dollars a year if you get the average returns of the S P 500 of 8 by the time you're age 65 you're still going to end up with a ending balance close to half a million dollars"
Pending
Subscribing to the channel will lead to more recommended investing and savings videos on the user's YouTube homepage.
"if you subscribe to this channel not only you're going to get more videos from me on your YouTube homepage you'll also get recommended other types of investing and savings videos"
Pending
Retiring at age 65 with only $250,000 will result in running out of money quickly.
"If you only had 250 000 to retire at the age of 65 you're basically going to run out of money rather quickly"
Pending
If one stops contributing to retirement at age 40 (with 2.6x annual income saved) and the portfolio grows at an average S&P 500 return of 8% per year, they will have $1.55 million by age 67.
"if you even stopped contributing altogether to your retirement portfolio at age 40 but you still invested it into the market and averaged an S P 500 return of eight percent per year you'd actually have 1.55 million dollars by the time you retire at age 67."
Pending
If one invests $2,500 per year consistently into the S&P 500 (earning 8% average returns), they will have a balance close to $500,000 by age 65.
"even at twenty five hundred dollars a year if you get the average returns of the S P 500 of 8 by the time you're age 65 you're still going to end up with a ending balance close to half a million dollars"
Pending
Saving 15-20% of gross income in one's 20s will result in being significantly ahead of peers by age 30.
"I think if we can aspire to say maybe 15 or 20 of your gross income if you can establish that habit you're going to be light years ahead of other people by the time you're age 30."
Pending
Individuals should aim to have 1.2 times their annual income saved for retirement by age 30.
"By the time you're age 30 Fidelity suggests that you should aim to have about 1.2 x of your annual income save for retirement..."
Pending
Individuals should aim to have 2.6 times their annual income saved for retirement by age 40.
"By the time you're age 40 they actually suggest that you should aim to have about 2.6 x income saved."
Pending
To achieve 2.6 times annual income saved by age 40, one needs to target a 15% savings or contribution rate to retirement.
"to get a 2.6 x amount saved by the time you're age 40 you roughly need to Target a 15 savings or contribution rate to your retirement balance..."
Pending
Individuals should aim to have at least 5 times their annual income saved for retirement by age 50.
"you want to have at least five times your annual income saved by the time you're age 50."
Pending
Individuals should aim to have 8.2 times their annual income saved for retirement by age 60.
"by the time you're age 60 Fidelity suggests that you should have 8.2 X your income saved for retirement"
Pending
Individuals should aim to have 10 times their annual salary saved for retirement by age 65.
"the amount that you should have saved by the time you you're 65 years old is 10 times your annual salary according to Fidelity"
Pending
Individuals contributing 15-20% of their gross income to retirement in their early 20s will be significantly ahead of their peers by age 30.
"I think if we can aspire to say maybe 15 or 20 of your gross income if you can establish that habit you're going to be light years ahead of other people by the time you're age 30."
Pending
If a person has $195,000 saved by age 40 (2.6x their annual income), stops contributing, and invests it in the market earning an 8% average annual S&P 500 return, they will accumulate $1.55 million by retirement at age 67.
"if you even stopped contributing altogether to your retirement portfolio at age 40 but you still invested it into the market and averaged an S P 500 return of eight percent per year you'd actually have 1.55 million dollars by the time you retire at age 67."
Pending
If a 30-year-old invests $2,500 annually (5% of a $50,000 income) and achieves an 8% average annual return from the S&P 500, they will accumulate close to $500,000 by age 65.
"even at twenty five hundred dollars a year if you get the average returns of the S P 500 of 8 by the time you're age 65 you're still going to end up with a ending balance close to half a million dollars"
Pending
A person retiring at age 65 with only $250,000 will run out of money quickly.
"If you only had 250,000 to retire at the age of 65 you're basically going to run out of money rather quickly"
Pending