this post was submitted on 25 Oct 2024
914 points (98.7% liked)
196
16385 readers
2456 users here now
Be sure to follow the rule before you head out.
Rule: You must post before you leave.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you'll have over $1 trillion.
Where are you getting 4% annual compound returns, though? That's faster than the historical growth in global GDP over the equivalent time period.