My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • boonhet@lemm.eeEnglish
    13·
    17 days ago

    Not to devalue your point, but if you truly were spending (10 + 3*75 + 20)*30 + 150 per month (so a total of 7800 USD) and you invest it in an index fund getting back 5%, you’ll have your million in 10 years. 8 years at 10% which is the long-term growth rate of DJIA and S&P 500.

    You’ll still never be the richest person in the world, but if you truly were burning away that much money, you could make decent dough just from investing it passively. In 30 years you’d have like 15 million, more than enough to retire.

    Now the only real problem is that nearly nobody is actually burning that much cash and the “stop eating avocado toast” suggestions are indeed stupid af.