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re: the gap between a million dollars and a billion dollars
Posted on 5/12/26 at 11:33 am to BK Lounge
Posted on 5/12/26 at 11:33 am to BK Lounge
quote:
Just about everyone in America is now a millionaire on paper (if they liquidated home, 401k, vehicles et al) -
lol. What a display of wholesale ignorance.
If they liquidated everything, most have dick in 401ks, over a quarter are upside down on their car, and would have some home equity, only to have to buy a new place at higher rates, downsize, or pay cash—or live on the street in California.
This post was edited on 5/12/26 at 11:37 am
0
Posted on 5/12/26 at 11:47 am to CAD703X
quote:
and a return of 10% makes it a million in 14 years a return of 15% gets you there in a little over 9 years considering the AVERAGE rate of return of the stock market for the last 30 years is 10.5% you're intentionally low-balling the math
Maybe not. 7% is a historical average used for planning purposes. Banking on 10.5% average gains is unrealistic.
Posted on 5/12/26 at 11:52 am to BK Lounge
quote:
Ok, I was exaggerating for effect.. but not by much .
"just about everyone" when the real number is likely below 10% and you say you weren't exaggerating by much?
Posted on 5/12/26 at 11:59 am to BowDownToLSU
$1 million buys you one bottle of Tiger Water ...
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