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> In fact you can make yourself a fairly decent retirement for a latte a day. not really. $3 * (40*365) = $43,800. in order to save $1M over 40 years, you nee
by unshift 16y ago
> In fact you can make yourself a fairly decent retirement for a latte a day.
not really. $3 * (40*365) = $43,800.
in order to save $1M over 40 years, you need to save $2083 a month. and $1M is not a glorious retirement.
- ScottBurson 16y agoYou're forgetting the magic of compound interest. At 5% annually, $3/day comes to more like $137k. For $1M you need to save $655/month at 5%.
- orijing 16y agoYou forgot that your wealth compounds.