[californical]

Definitely not everyone, but most people in America can become millionaires (inflation adjusted) within their lifetimes.

Saving $100 per week should be possible for most households today. $100 per week over 40 years with an 8% return is $1.3m.

If you think the market will be slower in the future, or higher inflation, or whatever, use the absurdly conservative 6% and it’ll take 50 years instead of 40.

Add in the possibility of home ownership giving an additional asset to add to the net worth over the investing lifetime, giving an extra few hundred thousand… and in forty years from now, we’re well over $1m in assets, easy.

Getting $100/week might seem daunting, but that’s less than 10% of the median household income — totally within reach of a majority of people with some small changes.

[carnitine]

The problem isn’t that inflation will erode the return percentage, but that it will erode the value. $1.3m in 40 years really doesn’t sound like that much money.

[californical]

It’s enough money to pay for perpetual retirement — it would provide an inflation-adjusted $50k per year indefinitely, which is what that median-earner was making. So $1.3m is enough to never need to work, and that doesn’t include social security.

Throw in that extra $15-20k per year from SS and you’re living a pretty wealthy life (especially if you’ve managed to pay off a house during your life, so no mortgage. Otherwise just put $300k of the 1.3 to pay cash for a house. Having no mortgage makes your money go even further, and you’ll be rolling in money.)

[nly]

> Saving $100 per week should be possible for most households today. $100 per week over 40 years with an 8% return is $1.3m.

A 8% annualized above-inflation return over the next 40 years is a big ask in today's low-growth world.