But an analysis by Forbes finds that a 20-year old saving for retirement would need to amass a $9.97 million portfolio to fund just a $60,000 lifestyle by age 65. What’s more, writes David John Marotta of Forbes, $3 million today represents just $500,000 in 1970s dollars.
Kathleen Pender of the San Francisco Chronicle also notes that Obama’s plan would not apply to himself:
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4 comments:
Communists are always exempt from party directives.
Who is this guy to keep saying how much is enough to retire on? It's a moving target, and it moves faster every time he orders another round of newly printed dollars.If I had 3 million today and retired, what would what I have left in 20 years be worth, and could it last me another five?
Probably not.
This man is an IDIOT!!!
IF the law does not apply to EVERYBODY, including the chiefl idiot, then it should not even be given consideration.
Work hard. Save money. Sacrifice and do without to make sure your kids aren't letting you live in the back bedroom when you are 65. Forgo the Benz your not-so-frugal, live for now friends have. Then have a government official tell you that they think you have too much money and they will have to take some from you. As he gets out of his Benz (with 15 armed guards, in case you are a bit angry). That such an action is even being CONSIDERED should scare the hell out of all freedom loving Americans. The government wants to tell me how comfortable I can be in retirement?? And they get to define "comfortable"? I'm betting that their definition of YOUR comfort level is a far cry from what they think is THEIR comfort level. You know, the serfs don't need that much anyway. LET THEM EAT CAKE!!!
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