$4mil in savings only = upper middle class

[msdw24]

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[JohnnyM]

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[YoLaDu]

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[THEU]

Yo,
I doubt I will ever have an earned income over 100k. Seriously doubt that, and put that number VERY high. However,. I do plan on retiring a multi millionaire. In fact, any person who makes a good 50k in W2 income should retire with over 1 million in savings without much trouble.

The only thing that is needed is good planning and delayed gratification. Do you know how fast money can grow if you will save regularly, and sacrifice to save?

 

[Larry T. Spider]

While I agree that most 50k earners can end up with savings in excess of 1 million - 4 million is a huge stretch for the average American. Saving 400 a month can get you to a million in 40 years with a 6% return. I doubt most people can swing 1600 a month in pure savings.