@ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish • 7 months agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square143fedilinkarrow-up1548arrow-down140
arrow-up1508arrow-down1imageAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.net@ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish • 7 months agomessage-square143fedilink
minus-square@UnpopularCrow@lemmy.worldlinkfedilinkEnglish45•edit-27 months 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-square@Stiffneckedppl@lemmy.worldlinkfedilinkEnglish12•7 months ago6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it’s over 2 mil.
minus-square@deltapi@lemmy.worldlinkfedilinkEnglish1•7 months 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.