Comment on Anon becomes a shrimp farmer
shortrounddev@lemmy.world 6 days ago>have 200,000 >invest in stock market >many years go by >you now have 220,000
Stock market isn’t an infinite money glitch, you have to be rich to start out with or you won’t see any meaningful return to your money until you’re 70
sugar_in_your_tea@sh.itjust.works 5 days ago
If you invest in the S&P 500, your money will double approximately every 7 years, or 10 years if you adjust for inflation.
If you invest $7k (max IRA contribution) at the beginning of every year (makes math easier) and get 7% (conservative, inflation adjusted return) from age 25, you’ll have $1.2M by 65, and you only invested $280k. That’s over 4x growth! If you have $200k and don’t add to it, you’ll have $3M inflation adjusted dollars after 40 years.
Investing isn’t infinite, but if you’re consistent, you’ll inevitably become wealthy.