What Past and Most Future Millionaires have in Common

A lot of people wonder what it takes so that they can be a millionaire.  For the vast majority of the population, this will come down to the amount of money they can save.  However, the numbers that are thrown out there are not really tied to being a millionaire.  A lot of the time, it is, “save enough to get your 401k match.”  Sometimes it is, “save $100 or $200 a month for your working life.”  Other times it is, “save 15% of your income to replace your income during retirement.” (more…)

The Opportunity Costs of Changes for Some Companies’ 401k Plans

There are some news items that should be getting more coverage.  One particular example is that some companies in the US have been increasing the amounts their workers can save in their 401k plans.  The potential consequences for a well educated populace are enormous for securing their retirement.  If done correctly, thousands of US workers, if they are intelligent, can add hundreds of thousands if not millions of dollars to their net worth in retirement. (more…)