Isn't his dad a coach at Cal? I'm surprised that more of the Cal staff and players aren't leaving after the s***show they went through this year with Covid, but if his dad is still there I bet that's where he goes. Wilcox and his staff almost ended up at UW, maybe the kid liked the idea too much.
I’m going for $5 million. I can take out $250,000 a year and never touch the principal balance as long as the account makes a 5% return every year (prettty small and doable). Also, receive social security, dividends, interest, gains, etc. I doubt I could even spend 300k a year in retirement (hopefully no debt by then) so I can reinvestment a lot of money every year too.
Jack is tellling you right. For any amount, you can open an IRA at someplace like Schwab or Fidelity online and buy an equal amount of an index fund every month. If it's going up, you win. If it's going down, it's on sale: you win. This is most important for people who do NOT have a company plan and are not out there talking about millions. The reason is the compounding you will get over time. $100 a month at your age will absolutely crush $1000 a month invested at 50. It's maths. If $100 a month is too much, start with $50 or $10. Just set a regular minimum and never miss your deposit. You can put the deposit and even the purchase on auto. You will never have to touch it, except when you want to increase the amount.
