• SpicyLengthiness@lemmy.ca
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    4 days ago

    If we had lots of time, then it’s easy. Just buy total market index funds and sit and wait. This is why vampires are usually rich. If you’ve lived that long, and you’re not rich, you’re doing something wrong.

    $2 at 7% a year for 50 years = $58.91

    $2 at 7% a year, for 500 years = $1,505,863.24

    The power of compound interest!