3 ms·
Throw 15 years of savings into the stock market and it will almost certainly double in value in 7 years. It is most certainly transformative if you pretend you
by dangus 2y ago
Throw 15 years of savings into the stock market and it will almost certainly double in value in 7 years.
It is most certainly transformative if you pretend you don’t have it for what amounts to a pretty short period of time.
- closeparen 2y agoIf you're saying "I'll just hang on in this job I don't like until I'm in this 8-15 range" you may find that it's not reasonable to make any big life changes from that position either; you still need to "pretend you don't have it" and keep going for another while.
- dangus 2y agoHolding on to your job you don’t like for not that long to retire easily is an amazing privilege that most don’t have.
- grumpy_coder 2y ago"it will almost certainly double in value in 7 years" implies 10% is an almost certain long term return. It is not. 10 years is a common rule of thumb to double your investment, this is a good guess since after adjusting for inflation, the real return of S&P 500 is about 6.8%. Which is about 10.5 years to double your investment. (give or take S&P 500 being one of the best returns you will find historically)
- dangus 2y ago10% is almost certain but yes I wasn’t adjusting for inflation.