How many times have you read that you will need $1 million to retire? If you are like me, you figured "Ha! That will never happen!" and convinced yourself that working for the rest of your life wouldn't be that bad. At least you would have friends...
What Britney can teach you about retirement
I know that this article was written based on a 25 year old, and that I am a few [ahem] years older than that. But one thing that struck me is just how little you need to save in order to ensure a comfortable retirement.
A 25-yr old making $30,000 a year, for instance, and putting away the same 8% of his pay into a 401(k) plan annually for the rest of his career is virtually guaranteed a comfortable retirement by time he hits his 60s.
Sometimes,I feel like Dr. Evil.
Dr. Evil seems to have a problem in general with understanding money, especially regarding the modern American economy and inflation. In the first film, he intends to hold the world ransom for $1 million, but doesn't understand that $1 million isn't as large a sum of money as it was in the 1960s, because of inflation, and the demand causes the U.N. to burst out laughing. In the second film, however, Dr. Evil goes back to 1969 and plans to hold the world ransom for $100 billion, an amount of money that didn't exist back then, and when he tells the amount to the President, he receives a similar reaction from the first film when the President and his cabinet laugh at him. In the second film, Dr. Evil says, "Why make trillions when we can make...BILLIONS?," not knowing that trillions are larger than billions. In the third movie, he demands "1 billion, gagillion, fafillion, shabolubalu million illion yillion...yen." This time his demand is met with simple confusion from the world leaders.
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