Yes, you've failed to consider the time value of money. https://en.wikipedia.org/wiki/Time_value_of_money https://en.wikipedia.org/wiki/Time_value_of_money 50k

Yes, you've failed to consider the time value of money. https://en.wikipedia.org/wiki/Time_value_of_money https://en.wikipedia.org/wiki/Time_value_of_money 50k today is worth more than 50k in the future. (Consistent compounding at 7% is extremely optimistic, even before considering inflation at 3%+).