Can You Accumulate $1 Million Saving $14 per Day?
Dissecting a claim from ABC News.
Saturday's ABC World News aired an investment snippet on how Americans should prepare for retirement. The feature lasted just under a minute and a half.
Consequently, there was no time to explain the numbers. Such are mass communications, and you will find no protest from me. This column skips plenty of details itself. However, I do have enough room to explore the segment's most dramatic claim: That somebody who begins investing at age 23 can retire with $1 million by investing $14 daily into a "low-cost S&P 500 fund."