ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 1 year agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square226fedilinkarrow-up1652arrow-down143
arrow-up1609arrow-down1imageAs 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 · 1 year agomessage-square226fedilink
minus-squareUnpopularCrow@lemmy.worldlinkfedilinkEnglisharrow-up58·edit-21 year 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-up13·1 year 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-up1·1 year agoThe other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
minus-squareThorry84@feddit.nllinkfedilinkEnglisharrow-up17arrow-down9·1 year agoAnd then you add the inflation and you actually just owe money. Got to get that third job at 65
minus-squareCryophilia@lemmy.worldlinkfedilinkEnglisharrow-up4arrow-down3·1 year agoInflation historically has been 1 to 4 %.
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.
deleted by creator
The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
And then you add the inflation and you actually just owe money. Got to get that third job at 65
Inflation historically has been 1 to 4 %.