The Atlantic: The Recession Hurt Americans’ Retirement Accounts More Than Anybody Knew.
“If someone had $10,000 in 2008 and lost 25 percent of it, they’d need a gain of 33 percent just to stay even. In fact, we found that the average gain was far smaller than what would have been needed to recover from the steep losses in 2008.” Read this idiocy. And they don’t even mention those who, because of the recession, had to make early withdrawals (with penalty). Few of my acquaintance have recovered their losses.
When you have a kid, slug about $5K in the best interest-earning account you can find. They should be taken care of, when they reach retirement age. In fact, the government should just go ahead and do it.
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