Gen Y's $2 Million Retirement Price Tag

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just save $95 per week and keep working as long as possible . you will be good to go

Kripal Singh of AL 1:57PM March 14, 2013

Are these people for real? What universe are they living in? Save $2,000,000? Most people in North America are having a difficult time making ends meet with their weekly salaries, let alone save a few hundred dollars per month...for life. I haven't saved a friggin penny, have enjoyed every aspect of my life immensely and will retire to a sunny, warm beach in a third world country after next year where I can live on a small pension. North America is not a great enough place to penny pinch for life just to have a few million dollars to pass onto your kids.

Steve 7:27AM April 24, 2012

Too damned bad you suckers listened to the "Great American Corporate and Capitalist Propaganda Whore's" and there "Sales pitch bull Shiite", and built McMansions in place of practical realistic sized, sustainable, mortgage-payable homes: with gardens not lawns, with super insulation, with Solar electric LED lighting, with Passive Solar heat instead of extra rooms, big swimming pools, great large lawns to upkeep. Poor ass-holes. I feel sorry for you! See articles on Straw Bale, on Stack wood. Look on net for housing expected in European countries - look to Denmark - net energy exporter with Wind Turbines alone - no Nukes at all! Look to Germany especially! They are so shutting down their Nukes - as fast as they can! What do they know full well, that our media keeps from us? Guess, ass-holes! China builds safe plutonium free, benign waste product, Thorium LFTR reactors - Google this! you can read! You can so Think! Never mind what you are told to believe, what you always believed, what your family believes, what "good Americans" believe! Read and see! Many Americans have gone "Off Grid" they "lurk" here on the net, without traceable addresses to be damned sure, and for their own protection. Search, watch for them! They offer good survival advice, philosophies,you need to read!

Uncle B 11:16AM October 07, 2011

Just work until you're close to death. Nothing to worry about. Or move to a developing country, although these will probably be more expensive in 50 years.

Joe of WA 12:15AM October 05, 2011

What does help some with their retirement is having their homes paid up first so that they don't have to pay for a mortgage anymore when they retire. Then, they really don't need a ton of money to live on and many are even able to do it on their pensions or social security as long as their mortgage has been paid off. Very few if any can get a steady 8% return from their investments given the low rates and volatility these days.

John 4:42AM October 01, 2011

I just read other comments. It's good to see people are more intelligent than those who come up with these 'financial plans' that everyone should follow because they 'make sense'...LOL

BAR 12:30AM October 01, 2011

What a load of crap. Just earn 8% per year return....and what about inflation and how the stock market has been wiped out. A year ago was a warning bell. Good luck to all.

BAR 12:27AM October 01, 2011

The 2011 Merryl Lynch Wealth Report claims there are 3.1 million people worth $1,000,000 or more in the USA. That's 0.9% of the population.
That means of the "226 registered investment advisors commissioned by Scottrade Advisor Services", TWO (2) of them have a million dollars or more.
It is a financial industry LIE that you must have more than a million to retire! If LESS THAN 1% of the population is worth a million dollars, what are your chances?!?!
As a North American, you are already richer than 90% of the rest of the countries on the planet! STOP chasing this impossible dream and learn to be happy with the abundance that you do have.

stop the financial lies 9:29AM September 30, 2011

The premise seems to be that people have a choice as to when they can retire. However, most people will be lucky to be working in their early 60s. They will not have the option of working until 70. Companies will lay them off long before, using whatever excuse makes the most sense - sickness, skills not up-to-date, etc. (Good-bye pension.) There is also a problem during the early years: Twentysomethings cannot find good paying jobs, and that will not change anytime soon. Globalization and technology are eroding the middle and working classes. Two million dollars, as the article cites, is an impossible number, especially considering debt, some of which is nearly unavoidable. And, at that time, the Federal Reserve will likely be on QE #465, and will have completed eroded the value of the dollar. Right now, we have negative interest rates, considering taxes and inflation. To find positive interest rates, we'd probably have to invest in Greek or Spanish bonds. Good luck in retirement!

Minority Report of WI 1:53PM September 27, 2011

What is with this sense of entitlement with my generation? The world/government doesn't owe you anything. Great rewards only come from great sacrifice. I am currently in Afghanistan serving with great young men who leave their families at home months at a time to protect our way of life in American. I see families here (like much of the world) who get up and work in the heat/cold, the women bake bread over fires fueled by manure, while the men drive taxi's or commerical trucks on roads laced with explosives and lawless extremists, just to put food on the table. Be thankful for the easy life you have and celebrate it by not settling for anything less than excellence. Stop acting like a victim because you might have to work until you are 70 because you partied and drank in college instead of getting a 4.0. I am scared for the future of this country sometimes. Be a lion, not a lamb.

Bill of NY 11:40AM September 17, 2011