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> Getting that sort of money is quite hard You could start a trust with ~1M in assets and if you avg 8% growth a year (taking into account management fees) you
by chillacy 5y ago
> Getting that sort of money is quite hard
You could start a trust with ~1M in assets and if you avg 8% growth a year (taking into account management fees) you'd have 1B in 90 years just through compounding.
- corin_ 5y agoAnd you're defining "have a million dollars that you don't need to spend for 90 years" as not hard to achieve? Doable for some, even easy for some, but for the vast majority of people.... very hard.
- chillacy 5y ago> start a trust I'm assuming this plan kicks off at death, so your trust wouldn't need to spend much to maintain itself.
- bruce343434 5y agoAt which point you will probably need closer to 100B due to inflation, if the dollar is still relevant. Also you're likely dead.
- r3trohack3r 5y agoIf my math is right it would take roughly 120 years at a 2% inflation rate: 1 * 1.08^x = 1000 * 1.02^x x=~120