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URL:  https://boards.fool.com/nobody-is-going-to-have-quot20000quot-at-25291066.aspx

Subject:  Re: A fix for social security and medicare Date:  3/15/2007  8:01 PM
Author:  alaskack Number:  3402 of 126604

Nobody is going to have "$20,000" at age 25. ???

This is where it all falls apart. Right outta da chute
It ain't good enough if the best you can say is, it is do-able. Basically it is an appeal to whimsy. It means you can dream it. How do you DO IT?


Instead of saying that it can't be done, why don't we explore what might be doable. For instance, if we change the age to 30, $30,000 will get you to $1 million by age 67. Is $30,000 doable? Assuming 12 years of working before age 31, that would be an average of $2,500/year. If your average salary was $20,000 over that period, you'd likely make it. For those whose average income looks to be less than $20,000, maybe the % of SS and tax could be increased.

Calvin
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