These ideas of adding $5K to an IRA or 401K every year are just great if you aren't a young person trying to make do on a minimal salary. For a person who makes, say $11.00/hour, the "leaving" would be $17K net. I find it difficult to believe that even a single could live adequately on so little (seriously, even $22K would be difficult).
Isn't there some way to give advice that is realistic to the majority of those who are in the 20-40 age group?
Posted 8:50 PM EST September 23, 2008
Posted by: CashedOut
Can someone please tell me If Rolling over my 401k in an IRA account with Met Life a good Idea? Are they FDIC insured? Thank you in advance.
Isn't there some way to give advice that is realistic to the majority of those who are in the 20-40 age group?