Yay, you're good at saving. That doesn't mean you're on the road to riches.
She tried visualizing what retirement could mean and how she could accumulate enough money to be comfortable. "It's all very well and good having savings, but is that enough?" Williams said she wondered.When she started digging into the numbers, she began coming across estimates of $1 million or more. It was daunting, to say the least."The difference between people who seem to live quite well in retirement and those who don't was investments," she said.
If you wait until you’re more settled and more knowledgeable, “you’ve lost 20 years of saving potential,” Vega said. It seems to be a more or less static problem for this age group, and one Vega does not see changing. Don’t get discouraged by unrealistic numbers. The recommendations to save $1 million or $2 million can be off-putting. “You feel you’ll never have enough,” Vega said.Not for millionaires only
It was a revelation that money in the bank or in a low-interest savings account could mean actually losing money because it wouldn’t keep pace with inflation.” a personal finance best-seller aimed at people ages 20 to 35.
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