New iphone
- Thread starter mattbrown
- Start date
Well, unfortunately the financial adviser is (as usual) being a little optimistic.
Initial principal of $335 and annual payments of $130 *12 = $1560 would take 45 years at a compounded rate of around 9% to grow to a million dollars.
If you can return 9% net year in year out for that long, drop me a note. I've got a job for you.
Not to mention that, thanks to inflation, in 45 years your million dollars probably won't even buy you a Disc Drive
Initial principal of $335 and annual payments of $130 *12 = $1560 would take 45 years at a compounded rate of around 9% to grow to a million dollars.
If you can return 9% net year in year out for that long, drop me a note. I've got a job for you.
Not to mention that, thanks to inflation, in 45 years your million dollars probably won't even buy you a Disc Drive
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