[quote=kev374]too simplistic, besides in my personal opinion we are going to be hit by a massive wave of inflation and higher taxes in the years to come which will wipe out savings unless you’re invested in something that will survive that.[/quote]
That is right. If I were to design a formula, I would assuming an inflation adjusted 2% return on my networths, and walk backwards to see how much saving is needed each year from now until my retirement.
Unfortunately, that will make the formula complex. And a complex formula has its own drawbacks (hard to remember thus impossible to draw actions based on the formula).
Excellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.
Excellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.
Excellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.
Excellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.
Excellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.
