CNN Money has a nice retirement planner tool that supposedly takes into account income, expected raises, 401(k) matching, and various other factors. I usually try it out around this time of year when I’m planning my December savings and spending.
I’m not convinced it’s entirely accurate. It suggests (emphasis as quoted):
If you adjust the amount you contribute each year to your taxable accounts to zero, you will have a 99.84% chance to save $450,363 from now until retirement.
Do I have some off-shore accounts of which I was not previously aware? Or have the odds of winning half a million dollars on a scratch ticket gone way up?
December 2nd, 2008 at 8:42 pm
Hey, that’s my retirement plan! Save $0 per year (also per month, per day and per second), retire with one million dollars.