20 Minutes to Double Your Lifetime Spending Power
Channel: Paul Merriman
Date: 2022-11-02

Chris Pedersen, Director of Research for The Merriman Financial Education Foundation, joins Paul Merriman to explain and elaborate on his ideas and tables published as the cover story in the AAII Journal(October 2022), titled, “Double Your Lifetime Purchasing Power in 20 Minutes.”

As Chris states in this broadcast, the article particularly pertains to people doing open enrollment, especially if they have an employer-provided 401k program. “For those who invest in defaults of the 401k programs, most typical across the industry, and do that for 40 years of their career, and then do fixed 4% withdrawals in retirement, and you look at all the cash flows in and cash flows out, and the standard investment, which is a target date fund, and then you adjust for inflation and you ask, ‘What was the impact on how much they have to spend over a lifetime?’ It doubles their spending power, even adjusting for inflation, just by investing in a target date fund, which is kind of unbelievable.”

Read Chris’ article at: https://www.aaii.com/journal/article/21644-double-your-lifetime-purchasing-power-in-20-minutes

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