ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 17 hours agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square163fedilinkarrow-up1509arrow-down139
arrow-up1470arrow-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 · 17 hours agomessage-square163fedilink
minus-squareUnpopularCrow@lemmy.worldlinkfedilinkEnglisharrow-up52·edit-216 hours 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-up11·12 hours 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 hour agoThe other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
minus-squareThorry84@feddit.nllinkfedilinkEnglisharrow-up16arrow-down8·15 hours agoAnd then you add the inflation and you actually just owe money. Got to get that third job at 65
minus-squareCryophilia@lemmy.worldlinkfedilinkEnglisharrow-up3arrow-down2·10 hours 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 %.