[quote=bearishgurl]AN, I think you would be surprised … I know a few who have +/- $3M in retirement accounts. You might be SHOCKED to learn that they live in an older home they own in central SD, south or east county. I can assure you that they didn’t get this way by attempting to “keep up with the Joneses” throughout life. :=0[/quote]
I can say for certain those people are not your normal average American. We’re not a consumer economy because everyone save.
To get $3M, you’d need to save ~$20k a year for 33 years and get 7.5% average return over the last 33 years. That’s well above the max for today’s 401k’s limit. That’s also WAY above the max limit in the past. So, those people you know, must be making some real lucky investment decisions for 33 years.
