I’m not missing the point, I get it. It’s just like, ugh, imagine if you’re witnessing someone in this magical scenario where they get so much money ($5k a day), but they still aren’t putting it into any sort of accounts that gets interest. It’s like watching your friend win the lottery and then buy more lottery tickets or something. I can’t help but just be like “noooooo wait! Don’t do that!”
It’s worth pointing out that $5k a month, with 1% interest is still worth only $10 million after a hundred years. Which is using a more realistic vehicle for wealth growth and still shows how insanely wealthy billionaires are. The tools wouldn’t let me plug in more than a hundred years and I didn’t bother calculating more by hand. https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
I’m not missing the point, I get it. It’s just like, ugh, imagine if you’re witnessing someone in this magical scenario where they get so much money ($5k a day), but they still aren’t putting it into any sort of accounts that gets interest. It’s like watching your friend win the lottery and then buy more lottery tickets or something. I can’t help but just be like “noooooo wait! Don’t do that!”
It’s worth pointing out that $5k a month, with 1% interest is still worth only $10 million after a hundred years. Which is using a more realistic vehicle for wealth growth and still shows how insanely wealthy billionaires are. The tools wouldn’t let me plug in more than a hundred years and I didn’t bother calculating more by hand. https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator