ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 24 days agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netexternal-linkmessage-square207fedilinkarrow-up1648arrow-down143
arrow-up1605arrow-down1external-linkAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 24 days agomessage-square207fedilink
minus-squareUnpopularCrow@lemmy.worldlinkfedilinkEnglisharrow-up58·edit-224 days agoAssuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.
minus-squareStiffneckedppl@lemmy.worldlinkfedilinkEnglisharrow-up13·23 days ago6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it’s over 2 mil.
minus-squaredeltapi@lemmy.worldlinkfedilinkEnglisharrow-up1·23 days agoThe other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
Assuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.
6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it’s over 2 mil.
The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
deleted by creator