Millionaire

A person age 62 retiring today who started working at age 20 some 42 years ago could be a millionaire today based on three factors. Over those years the medium annual income increased from $6,249 to $63,180 or 5.7% per year. During this time the stock market increase an average of 10.6% each year. If the average worker had invested 10% of his earning over these 42 years, he would have $5,151,672. The three factors are that wages increased by 5.7%, the market earned 10.6% and he saved 10%.