ilmscore | How Much You Should Save In Your 401K By Age - 2024 Edition!

How Much You Should Save In Your 401K By Age - 2024 Edition!

Published: 2024-07-01
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
Investors with extreme 401k gains (251-1000%+) in the past year are unlikely to repeat such gains annually.
"my guess is is that this is probably a oneoff year and it's likely that they're not repeating this every single year"
Investment returns (outliers)
Pending
A 34-year-old with $150,000 saved, making 8% annual returns, who stops contributing, will have over $1.9 million by age 67.
"if you have two x that salar saved by the time you're age 34 or a balance of $150,000 you could stop contributing altogether right there and you would still have over $1.9 Million by the time you're aged $67 if you get the average annual returns of 8%"
Retirement savings
Pending
A 35-year-old earning $70k, contributing 5% of income, will have over $500,000 by age 67.
"pretend you could only save 5% of your income and you make 70k a year at the age of 35 now even with 5% of your income invested until you're the age of 67 you'll have an ending balance of over half a million"
Retirement savings
Pending
A 35-year-old earning $70k, contributing 12% of income, will have over $1.3 million by age 67.
"If you save 12% of your income at 70k a year at the age of 35 by the time you're 67 your ending balance is going to be over $1.3 million"
Retirement savings
Pending
Individuals aged 55-64 with an average 401k balance of $244,000 are unlikely to retire comfortably.
"if your 40K is only at the average balance of $244,000 it's unlikely that you're going to be able to retire comfortably"
Retirement comfort
Pending