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Investing Books / The Millionaire Mind


Subject:  Re: Anything else? Date:  5/27/2001  1:57 PM
Author:  telegraph Number:  166 of 220

"Very few people in America are millionaires because of saving their 20% of their monthly paycheck and stashing it in their 401(k). "

Those who were savvy enough, and got their 401K matches in company stock (3 or 5% or whatever) were often richly rewarded. For example, WCOM stock rose by a factor of 40 over the past 12 years. GE stock has gone up by 40 since the early 80s.

If you worked for one of a hundred companies or more, you would have been richly rewarded.

Just being in the SP500 for the past 10 years has done wonders for 401Ks. Of course, repeating that 20% per year may be hard, but for those in the market, they have done well.

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