Reminder to start investing for retirement

For anyone who's 18, if you open a retirement account now and invest only $25 a week, you'll be a millionaire at 62. Yes only $25 a week - so long as the average annual growth rate stays at 10%.

Fuck you faggot I'm not locking up my money with the government. As others have said this shitshow WILL collapse in our lifetime, I'll be keeping my money save with my own investments.

kek 10%, that is hilarious

I don't even have 20 spare dollars a week right now

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nice blog post barbara

where the fuck are you finding 10% annual growth rate

>Living debt free less $500 is living like a peasant
uhh, its the other way around retard. Do you know how many people are literal debt slaves who spend the majority of their income on debt and taxes and have nothing saved to retire on? Most people live like that.

If you save a modest amount of money consistently starting now you don't have to become the 75 year old walmart greeter who has to keep working until he dies to pay for his medication.

Pretty sure that is bullshit

The average return from the stock market is 7%

nigga I ain't working till I'm fucking 70

ITT: Idiots who think they won't be 70

And when you're 70, you're going to wish you had some cash flow to buy an Asian nurse to wash your testicles, instead of being committed to a state facility where you're gonna get beat up by niggers.

Get fucked boomer faggot

If joining in on the oldest Ponzi scheme is your of chance of making it then good luck. By 70 I'll have a robust passive income setup, now run off and be a good goy buying into stocks with an average p/e of around 25 I believe for the S&P500. That means it's overpriced and you're fucked, gl boomer

Boomers are the number one culprit of this

The majority of them have nothing saved for retirement despite being the wealthiest generation in human history. They consumed it all and millenials won't be able to cover their retirement costs.

it's actually 10%%. If you factor in inflation then you're right it's about 7%

My understanding is that its 7% including inflation

7% makes sense because its 2% inflation plus the annual dividend and coupon on bonds and stocks adds up to about 5%.

Holy shit....I think you're right. In 40 years it will be 2060, and the American socialist system is projected to crash around that time. That's a lot of angry shitskins looking for gibs.

Fuck man...I literally don't think I need to save for retirement. I'm having an epiphany here.

What happens when niggers move into your neighborhood and collapse housing prices abd rents?

RWDS

1 simple google search will prove that you're wrong

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like I said, adjusted for inflation is 7%. Not adjusted for inflation is about 10%

how are they getting $2,181,900 for the first answer?

$500 x (1.1)^50 = $58,695 (when it's annually compounded)

$500 x (1.1)^(50 x 12) = a really big number (when it's monthly compounded)

Its $500/month or $6,000 per year

$6000 x (1.1)^50 = $704,345 (assuming annual compounding)

Yeah, it's not really a surprise you'll get rich if you have that much to invest when you're 20 lol.

I assume I'm doing something wrong with rate I'm using in this:
>$500 x (1.1)^(50 x 12)

should it not be 10%?

Its a yearly contribution

6,000^50 + 6,000^49 + ... + 6,000^1

I mean the growth rate to the exponent, not the principle

Saving for retirement is the biggest NPC meme there is.
Putting your money in (((funds))) is just gonna make (((them))) richer as you're providing capital (((they))) can play with and get returns way beyond what they give back to the average Boomer.
Create your own business or invest in real estate. Retirement funds are for retards with no vision or long term plans who are okay with wagecucking for 50 years never even getting to a 6 figure income.

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oh so like:

[$6000 x (1.1)^50] + [$6000 x (1.1)^49]....+[$6000 x (1.1)^48]

that's wrong, never mind

tell me all about the big great war against stick-wielding indians
ooh, ooh, or is it the civil quabbles because the great-great-grandparents you nigger-obsessed mutts couldn't part with your niggers
yeah, a real warzone right there. your overweight fatass who hasn't known adversity for three generations is sure to be prepared for a world conflict

oh fuck me, forgot about that sigma notation stuff, they keep iterating through that equation (adding each result to the next), until k = 50 x 12

(and then they'd multiply that entire answer by 1/1.0322^50)

Wait how is this right?
After 10 years you have 1 million but then it takes another 40 years to get another million?
That second equation is fucked

Correct, if you use a spreadsheet its easier

No, the 10 years you spend in the market gives you a principle high enough that its like starting out 10 years down the road with 100k+ vs $0

>age 70

kek, I'm going to die of poor health well before then. It's just a race to see whether it'll be diabetes, liver/kidney/pancreas failure, GI problems, or cancer.

Being financially secure at 70 is extremely important. Especially if you have no kids to care for you. You want to be homeless or working in an Amazon wage cage at 70? Ideally we all want to retire way younger than that but many people will be workin until they are 70.

Tbh, at this point I'd be extremely surprised if I haven't killed myself by 70 lol. What's the point of living after 70 anyway, I don't get it.

Oh I see, it means he starts saving at 30, got it. Thanks

the revolution that overthrows capitalism is my only retirement plan

I'm inclined to agree, if you have grandchildren by then it's a different story though.

People say their happiest years are their 60s followed by 50s, 40s, 30s, 20s

Probably because you have money and a family and lose interest in sex for the most part

>$500 a month

Less than 25% of Americans can afford to do this. I vote Republican and even I think this post is retarded.

Top fucking lel m8 I can't give a shit since I become 20, I prefer to die before reaching 70 thanks. I'll be here only to see this socialist world burn, if it will not crumble by the time I'm 50 goodbye to all and good luck with your stock returns.

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>By 70 I'll have a robust passive income setup, now run off and be a good goy buying into stocks with an average p/e of around 25 I believe for the S&P500.
Ok how then?

Especially in their 20s lol.

>20
>able to invest 500 dollars a month
Im 22 and that would literally be half of my paycheck working part time
>multimillionaire at 70!
>You can finally afford your own mcmansion!
Eat shit
Ill take my chances with passive income from property and starting a business at 40

Imagine going through with this pathetic strategy when Chainlink exists

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>Too poor to put a few hundred in the stock market
>Rich enough to buy land with a high roi
Um sweetie....

Hahahahaha exponential growth wtf nigga
Wtf "Long term" nigga
In the long term we're dead

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Yes as a student i am poor, what is your argument here honey bunches

I'll never be able to retire... two things I'm going to do instead:
- Take mini retirements (3 months or so) from 5 to 5 years;
- Try to reach a state of semi-retirement (working 20 hours a week or less) by 40 or something like that;
- Exit scam from this life at 65 with a 9mm bullet.

I'm more partial due to it being mental decline and/or ever increasing doses of COPE.

You can snowball a few hundred into a down payment instead of spending the money like a nigger

>Age 70
KEK
>Multimillionaire in 2060s dollars
KEK
>Investing $500 a month from age 20
KEK

Who the fuck thinks a 20 year old has FIVE HUNDRED spare dollars each month to put into a shitty fund that will only double the worth of their contributions by the time they're 70?
I've done the shitty calculation, anyone can with the principle interest formula, and you don't need summation notation either.

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You will never suicide, you're too weak and cowardly to, but you'll complain when the times get tough and you have no money

If we are not close to reaching the singularity by 2030 the us government will collapse under itself from immigration.

Obviously Jews, because they get high paying jobs at extremely young ages and get tens or hundreds of thousands from their bar mitzva

So what do I buy if I want to do that? Do I buy s&p 500? Where at? Or one of the Rothschild IRAs and what kind?

Anyone who isn't a bottom rung wagecuck

Here's what happens to 90% of people

>Get first non-meme job, probably pays around $2000/month
>"Now I can move into my own 1 bedroom apartment and finance a new car"
>Extra $1,000 down the drain monthly
>Has to buy stuff on credit
>Becomes a perpetual wageslave

Instead of
>Get first non-meme job
>Spend some money on things that will truly improve quality of life and invest the rest

Buy vanguard total stock index (VTSAX)

Its the credit union of mutual funds, almost no fees and owning stock = owning part of the company that manages the fund. Best index fund if you want to buy the entire market.

This, we are literally a generation that will be culled by the civil war or some other big conflict. Millenials and Zoomers thinking they will retire and live the boomer life are completely delusional, it's only going downward since our births and it will continue like that until we touch a bottom.

The only conflict big burgers experienced are the civil war which was a puny conflict compared to WW1 and WW2, Europe went through absolute hell during the last century, USA lost less soldiers in its entire history than France in WW1 to give a scale.

By 2070 there will be robots doing these kind of things or we will be dead because the world will be a post-nuclear wasteland.

People have always said the world is about to collapse, they are never right

Imagine being such a brainwashed idiot that you wait to retire until 70, only to die two years later with 2 million useless dollars. I'll be retired by 30 (boomer) if BTC ever goes back to ATH.

You'll be 70 before they do

started this at 21....I'm 36 now. Managed to squirrel away 140k into muh retirement accounts.

Took an interest in genealogy two years ago, and I'm glad I did. Barring any accidents or freak illness I can realistically expect to live into my 90s based on my health and family history..

I'm already 29 mate

>I'll be retired by 30 (boomer) if BTC ever goes back to ATH.
And if it doesn't? Going to start a meme business that'll most likely fail (survivorship bias - the whole entrepreneurial gladhanding dicksucking feel good circlejerk is disgusting)

i dont plan to live to 30

At age 70 it will make zero difference whether you're a millionaire or not. What are you going to do, buy yourself extra fancy Alzheimers drugs?

>the stock market has an average nominal annual growth of 10%

lel ok.

Focused ultrasound applied to the plaques in the brain are showing extremely promising results in fixing Alzheimer's.

im 21 and i have approx 3k to put away each month, it's very easily possible if you don't fall for the university meme and don't work a shit tier job

So what do you do, hotshot?

That's not the point you literal retard. He's saying that by 70, you're too old to enjoy your money. Come back here when you're at least 100 iq.

>only 70 years old and wife dies 3 years ago, presumably in her 60's
Only normal in amerilardland.

>point out Alzheimer's disease will likely not be an issue in ten years let alone 40
>get called a retard for pointing out Alzheimer's will not impact quality of life at 70

Never change Jow Forums

>thinking you'll have a wife/not be divorced

Buy both stocks and real estate. Doesn’t have to be either or.

NOPE EITHER MOON OR NOOSE NO INBETWEEN

>thinks alzheimer's is the only bad thing at 70
Wow, you're a retarded faggot. Come back when you're iq is at least 2 digits.