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In reply to the discussion: Wake Up, America! We're Paying Billions for Personal Financial Advice, and It's Making Us Poorer [View all]stultusporcos
(327 posts)I am no finance and investment genius, I have a 401k in no load mutual funds through work with matching funds, some savings bonds and a small savings account. That is it and in 12 years as long as I average 5% each year in my 401k, the wife and I will have $1.1 million in the 401k, we did not think it was doable either but if you pay yourself first and dont touch it you can save more than you can realize over time and it is easier than you think. Neither of us came from wealthy families either and for a large part of our working careers we made less than $50k a year combined. Yes we live life and buy stuff and take vacations , rack up CC Debt, etc about the only thing we dont do is buy new cars all the time our newest car is 9 years old with over 150K miles on it.