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It isn't too difficult to reach that, but $1m net worth isn't rich by most people. For example, the average 30+ years old house here costs more than that (oh heck, my house is 40+ yrs old and costs more than that).
But if you only want $1m, you can get that much just by using the SP500 with a monthly contribution of $2000, and in less than 20 years, you'll have $1m assuming SP500 returns 8%.
Please stop all of the stupid memes and gifs. This isn't facebook. If you have something useful to add to the conversation, that's great. Please do. If not, just step away from the keyboard.
Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
if you only want $1m, you can get that much just by using the SP500 with a monthly contribution of $2000
Since the median income in the US is about $53,000, that would mean investing well more than half of your take home pay each month. Not very realistic, I'd say.
Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
Please stop all of the stupid memes and gifs. This isn't facebook. If you have something useful to add to the conversation, that's great. Please do. If not, just step away from the keyboard.
That's funny. I get private messages all the time telling me the gifs I post are hilarious.
Please stop all of the stupid memes and gifs. This isn't facebook. If you have something useful to add to the conversation, that's great. Please do. If not, just step away from the keyboard.
I kinda just glaze over them but Steve is right...you've been going ape over these memes/gifs lately. Just slow down on them. When you use these things every other post they lose their "value." It just starts to look like a cluster.
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