ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 3 days agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square232fedilinkarrow-up1650arrow-down145
arrow-up1605arrow-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 · 3 days agomessage-square232fedilink
minus-squareUnpopularCrow@lemmy.worldlinkfedilinkEnglisharrow-up59·edit-23 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-up13·2 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-up1·2 days 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-down9·3 days 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-down3·2 days 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.
The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
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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 %.