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If you were to invest that at 6% for 18 years, (say when your child was born), you'd end up with $155K before adjusting for inflation. That would pay for a lot
by greedo 14y ago
If you were to invest that at 6% for 18 years, (say when your child was born), you'd end up with $155K before adjusting for inflation. That would pay for a lot of college.
And for the poverty family, this would be about $77K.
- drostie 14y agoThat would be great, if you were living sometime between the years 1960 and 2000. I don't know if you've heard, but we've had a rather spectacular economic downturn since then. 5-year CDs are less than 2% interest; 1-years are a little less than 0.8%. (The corresponding rates for the stock market are too volatile to quote.)