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re: Dave Ramsey Facebook Tip Of the Day
Posted on 10/21/22 at 9:02 am to pioneerbasketball
Posted on 10/21/22 at 9:02 am to pioneerbasketball
Does $600 a month invested really work out to $500k in 20 years or $1.5M in 30 years? Anyone else check that math?
3
Posted on 10/21/22 at 9:08 am to lsu13lsu
quote:
Does $600 a month invested really work out to $500k in 20 years or $1.5M in 30 years? Anyone else check that math?
You would need to average 10% return over that entire time period.
Looking at the S&P 500 for the years 1992 to 2021, the average stock market return for the last 30 years is 9.89% (7.31% when adjusted for inflation).
Posted on 10/21/22 at 10:12 am to lsu13lsu
quote:
Does $600 a month invested really work out to $500k in 20 years or $1.5M in 30 years? Anyone else check that math?
$600 x 12 months = $7,200/year
$7,200 x 30 years = $216,000
Posted on 10/21/22 at 10:14 am to lsu13lsu
quote:
Does $600 a month invested really work out to $500k in 20 years or $1.5M in 30 years? Anyone else check that math?
The stock market only goes down
You’d be better off buying 600 bucks worth of bullets every month for when society collapses in the next few years
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