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Hello all,
I'm 22 and I've been thinking about starting to save for my retirement and I have an idea in my head that I'm not sure will work or not. I'm making about $85K to $90K a year (taxes included). I was wondering if a good idea would be to start putting "most" of that money in a safe mutual fund and by the time I'm 40, I'd have about $1 million. Now, the question is could I live off of the returns I would get and how much (worst case) would I be getting (after taxes and all) with $1 million invested in a very safe mutual fund?
Thanks in advance for all comments.
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