ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 13 hours agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square95fedilinkarrow-up1405
arrow-up1405imageAs 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 · 13 hours agomessage-square95fedilink
minus-squareUnpopularCrow@lemmy.worldlinkfedilinkEnglisharrow-up44·edit-212 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-up6·7 hours ago6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it’s over 2 mil.
minus-squareThorry84@feddit.nllinkfedilinkEnglisharrow-up15·10 hours agoAnd then you add the inflation and you actually just owe money. Got to get that third job at 65
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.
And then you add the inflation and you actually just owe money. Got to get that third job at 65