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8 hours agoSchwab's 1000 Stock ETF Beat the S&P 500 With Just 3% Turnover
SCHK provides broad U.S. equity exposure by tracking the largest 1,000 firms with a 0.03% expense ratio, preserving wealth through low costs.
There are plenty of retirees today who get the bulk of their income from Social Security. Some seniors, in fact, manage to live on Social Security alone (though they don't necessarily live well). But you should know that the average retiree on Social Security today gets about $2,015 per month. Even if you're willing to live very frugally, that may not be enough money to cover your bills, especially when you factor in rising healthcare costs and persistent inflation.
Even small optimizations can become meaningful. Assuming a $5,000 initial investment and annual $5,000 contributions for 25 years, the difference in improving your IRR just 1% and going from 8% to 9% annual returns results in nearly $67,000 more in your retirement account. So it's worth spending a little extra time to make sure you're getting the most out of your Roth IRA by understanding all the various benefits and strategies.