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|Subject: Re: Secrets of the 0.2%||Date: 1/22/2012 1:04 PM|
|Author: Watty56||Number: 69960 of 81568|
Bad use of statistics in at least several ways;
This percents are biased because a lot of people that did have a million in their 401K probably retired early and would have been removed from the study.
The million dollar mark is unrealistically high benchmark because the average wage of people that working is surprising low and there are a lot of low paid workers.
Someone making $40,000 a year does not need a million dollars to replace the income since social security will replace a significant percentage of it. Someone who is 55 and making $40,000 and has half a million in a 401k is in reality doing wonderfully.
A much better way to have measured it would to have looked at what percent of people have something like 20 times their income in the 401k.
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