As a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone ๐
As a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone ๐
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Assuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.
And then you add the inflation and you actually just owe money. Got to get that third job at 65
6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it's over 2 mil.
The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
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