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Would you be able to provide details? I don't know what has been debunked, or how.
by DanAndersen 11y ago
Would you be able to provide details? I don't know what has been debunked, or how.
- notacoward 11y agoThe main problem I see is that he cherry-picks the number for investment returns (arbitrarily using a 20-year average even though he's talking about a 44-year investment plan) and then fails to account for inflation. For more realistic numbers, the amount would be more like $160K - nothing to sneeze at, but not the click-baity "over a million" he obviously wanted.
- DanAndersen 11y agoThanks, and agreed. The point is good enough that it doesn't need exaggeration like that.
- vilmosi 11y agoThe other comments in this thread make an excellent point on how this doesn't make sense (extremely long investment period, unusually high interest, no inflation...). However, my $0.02 is time. If you can afford a daily $5 coffee, the time it takes to make yourself a cup of coffee every day will cost you a lot more than $5. Not to mention the fact that if you can afford $5 a day, you 're probably stable enough financially to save up for retirement anyway.
- Delmania 11y agoThe short answer is you won't invest money; you'll use it for another expense or to reduce a liability against you. The medium answer involves understanding your finances to know how 25/week on Starbucks impacts your budget. Is it 1%? Is it 10%? The much longer answer involves analyzing the stock market and spending habits, and understanding that to become wealthy in the sense referred here, managing your money is only a part of, you do need to work on generating a lot of income.