That number would be on the very low end. The higher your net worth exceeds it is what really makes you a saver.If you had $599,999.00 you would fall into the average accumulator. The book was...
Type: Posts; User: NitroZ7
That number would be on the very low end. The higher your net worth exceeds it is what really makes you a saver.If you had $599,999.00 you would fall into the average accumulator. The book was...
Yep. The formula just tells you if you are doing a good job savings, It is not projecting whether you savings are invested in a way to see you through retirement.
I think they wanted to factor in an age component though because younger people earn less and would have accumulated less assets but have more time to save and build.
I thought the same thing but if they are taking out your principal residence and basing it on your annual earnings then I guess it gives a framework.
According to the Millionaire Next Door you are an accumulator of wealth if your net worth (not including your primary residence)>than your annual earnings x age x10%. I guess this would take...
