By middle age, the median income for 35-44-year-olds is $40,768 for women and $49,972 for men. The median income for 45-54-year-olds is $40,248 for women and $52,624 for men. In other words, the median income doesn't increase significantly after age 44. In fact, the median ...
One reason people in their 50s tend to fall short with their retirement savings is because they didn't get to benefit from relatively recent changes to the 401(k) system, says Anne Lester, a retirement expert and author of "Your Best Financial Life: Save Smart Now for the Future You Want...
To put things into perspective, assuming the end goal is to have $1 million by the age of 60 for a 30-year horizon, if one can only contribute $2,000 a year, they would have to achieve a higher rate of return, where the realms of passive investing might not be able to provide su...