Akivah
Well-Known Member
https://www.cbsnews.com/news/americans-with-1-million-saved-sees-a-big-jump/
The article shows that anyone can be a millionaire all on their own. Government assistance is not needed, indeed government assistance typically keeps people in poverty. These 401k millionaires have saved for over 30 years, making regular contributions. They also contribute enough to get their full company match, don't cash out accounts, and don't take out loans against their accounts. What I find disgusting are those people that want to punish these people for saving well by wanting to seize (aka tax) their money for the government.
...the number of people with $1 million or more in their 401(k) rose to 157,000 at the end of the first quarter, a 45 percent jump from a year ago.
The article shows that anyone can be a millionaire all on their own. Government assistance is not needed, indeed government assistance typically keeps people in poverty. These 401k millionaires have saved for over 30 years, making regular contributions. They also contribute enough to get their full company match, don't cash out accounts, and don't take out loans against their accounts. What I find disgusting are those people that want to punish these people for saving well by wanting to seize (aka tax) their money for the government.