Assuming a more modest 6.5 percent annual return, you'd have around $26,000 in 10 years, $168,000 in 30 years and $667,000 in 50 years.
To be sure, many young people are more worried about paying down their debt than building up their wealth. The average millennial is $15,000 in debt, TD Ameritrade found. Student debt is increasingly a problem, with the average borrower paying almost $400 a month for their education. But if you wait until you've paid off all your debt to invest, Taylor said, your goals will be harder to realize.
"If you start late, you will never catch up to the person who started early with the same amount," Taylor said.
If you can average 10% per year... Quit your job and go run a hedge fund that charges 2 and 20. Many professionals can't average 10%
How about a 30 year bond
Compounding works no doubt...but 10% returns?
Where the hell can you get annual interest of 10%?
Unless you are incorporating the exploding pay gap into this, all you are doing is selling the idea of people being a rat on a wheel chasing a utopia to make CEOs and shareholders rich.
OH BULLCRAP! The only way that happens is if you pay livable wages. Economics and civics should be taught in public schools. But if you don't do that, or pay livable wages, you are simply creating a hamster on a wheel.
10% return - show me where I can get it pls👀
What kind of washed-up editor approved this piece of writing?
Great advice for those of us not already down to ramen and ketchup for dinner in order to make rent.
But Democrat Millionaires say it is bad for us to strive to be Milliinaires.
Limited time offer:
Simply do it for 40 years no biggie guys and you’ll have $1M in 2060 dollars which will maybe buy you a car. Good luck everyone!
Be a $BILLIONAIRE !!! Investing in “Crypto is scary and dark. It’s anti-America,” says Mellon, 54. “I am pro-America, pro-business and pro-bank. That’s why I went with Ripple.” Mellon’s $XRP is worth around $1 billion.
If we put the same amount in to private funds instead of social security, we would all retire multi millionaires at 65.
physics time and money PremiumFunny bet delusional theory honesty impractical as science chronicle show grownuppolitics relation harbor ports and walls bios202 DEFCONescalator wharton honorarium .est good people both sides office socialbakers apple nationalpieday
OR put 1 dollar in an account paying a million percent compounded by the second.. same fantasy..
you have a better chance of finding a bag with a million dollars in it, laying in the street than finding an interest bearing account paying 10% for 50 years.. this kind of financial bullshit lie pisses me off
Or marry rich!
Step 1: Be 22 years old. Step 2: Don't be a typical 22 year old.
If u find such an account let me know. What a pointless tweet.
LOL
Who is giving out 10% annual return?! Some banks won’t even give 1% with less than $10k. Wtf kinda irrelevant advice is “just get 10% APY for FIFTY YEARS”? I’m reporting you for being spam
10% annual return. Right.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: SELFmagazine - 🏆 478. / 51 Read more »
Kimora Lee Simmons and Her Husband Adopt 10-Month-Old Son, GaryKimora Lee Simmons and her husband adopt 10-month-old son, Gary.
Source: InStyle - 🏆 103. / 63 Read more »
3 Tennessee Students — 6, 10, and 16 — Killed as Innocent Bystanders in Drive-By Shootings“It is horrible,' Memphis Police Department spokesperson Louis C. Brownlee tells PEOPLE. 'They are vulnerable members of our community.” Beautiful lives wasted for what? Senseless act of hate. 😤 😡 🛑 the 💀! 😢 SICKENING AND TRAGIC.
Source: people - 🏆 712. / 51 Read more »
Source: ADDitudeMag - 🏆 311. / 61 Read more »