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Off Topic Off Topic - General non-Corvette related discussion. |
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02-06-2021, 1:38pm | #21 | ||||||
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02-06-2021, 1:38pm | #22 | ||||||
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02-06-2021, 1:41pm | #23 | ||||||
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02-06-2021, 1:45pm | #24 | ||||||
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02-06-2021, 1:45pm | #25 | |||||||
Sparkles Flambeaux
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using the rule of 72 as a guide, i'm pretty close. for the newbies: rule of 72. take your average annual return times the number of years, when the product is 72, that's how long it will take your money to double. 1.08^9=2. 8% for 9 years will double your money. 15.5 x 10 = 155, just a tad over 72 x 2 = 144, so as my calculation showed, you doubled your money twice and a little more. start with 1000, end with 4225 |
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02-06-2021, 1:47pm | #26 | |||||||
Barn Stall Owner #2112
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Not in my world for a 401k. |
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02-06-2021, 1:47pm | #27 | ||||||
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02-06-2021, 1:50pm | #28 | ||||||
Barn Stall Owner #2112
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02-06-2021, 1:52pm | #29 | |||||||
Sparkles Flambeaux
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just doing the math for the math phobic. if i'm taking out 3% a year, i'm happy averaging 4% per year. more is gravy. means my account balance will continue to grow over time. so, yeah, you're doing great. as i noted above, at some point, you can take fewer risks and bank some of your winners. |
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02-06-2021, 2:18pm | #30 | |||||||
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If inflation didn't exist, I would agree with this, but it does, and it is likely to get worse in the coming years due to the incredible deficit the US is building. BTW: I agree with your math on the 15.5% for 10 years. I'm sure Jeff will not show us his though. |
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02-06-2021, 2:36pm | #31 | |||||||
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Central Bank / government currency and interest rate manipulation are pushing asset prices such as stocks and housing up but it's impossible to divorce markets from the economy. They are part of the whole albeit no longer working as they have in the past. |
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02-06-2021, 2:49pm | #32 | ||||||
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02-06-2021, 3:38pm | #33 | ||||||
Sparkles Flambeaux
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it really isn't that hard to have a polite, civil conversation on a given topic.
but that isn't going to happen today it looks like. fault on both sides. |
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02-06-2021, 4:15pm | #34 | ||||||
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Holy shit!!!!!
It worked!!!! |
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02-06-2021, 4:17pm | #35 | ||||||
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02-06-2021, 5:42pm | #36 | ||||||
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02-06-2021, 6:04pm | #37 | ||||||
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I honestly suck at investing, but my wife's brother has been with Merrill Lynch for 45 years and has managed her IRA and my daughter's college fund. Both have done extremely well. BTW, brother in law's 2 girls have $10 Million trust funds each.
Me on the other hand...I have 15 easy years left if I choose to retire, but I'm in over-max earning mode. We only have two loans..our mortgage and my wife's car. Yes, I'll have a note on the C8, but it's chump change in the big picture. Just free cash flow over the next 15 years will dwarf her IRA. I really wish someone taught me to save earlier. I didn't learn to save until I met my wife. |
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02-06-2021, 6:24pm | #38 | |||||||
Sparkles Flambeaux
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no, i won't spend every dime i make this week. no, i won't buy more cars than i can drive at once. no, i won't go out to dinner 3 times a week. no, i won't....fill in the blank. if you have nothing left over after pay day, there is no way you can invest, either poorly or well. the biggest thing youngsters have going for them is time. time to ride out market ups and downs, time to let the first dollars compound over and over again. |
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02-06-2021, 6:37pm | #39 | |||||||
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02-06-2021, 6:42pm | #40 | ||||||
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