You'll need at least $1M per person to retire on when you reach 65 in today's dollars. Most retirees don't have that kind of money, which is why the US will be having a retirement problem within ten years. But in your case, you need to keep making money.
I wish I had family who'd give me money. Instead I have relatives who've taken a good percentage from me of what you've got.
Yes, if you hold onto it. Put it into a reasonable long term investment, such as a mutual fund that has averaged 8% or more over the last 10 years.
well obviously you cant retire on it so of course you need to make more
I am from Honolulu, HI and it's going to be my senior year in college. I am a finance major and my plan is to move the the mainland states. My dream is to do a start up business someday and own my own home. I was fortunate to inherit money from deceased family members. I have a total of $400,000 in liquid form of assets. Is this a good start to make my dreams a reality or do I need to make and save up more?
