• Rodeo@lemmy.ca
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    1 year ago

    No, you have 35 years to earn interest, because the first 35 years was spent saving the principal, remember? And remember how I said with interest alone? So no more $500/month contributions either.

    So with that calculator, $210k at 4% interest for 35 years puts you at $849,611.66 with monthly compounding.

    So not a million.

    • SwingingKoala@discuss.tchncs.de
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      1 year ago

      If you spend 35 years to accumulate money and never earn interest on it, yeah, if somebody is that stupid, your comment is correct. That’s nothing I ever claimed though, I assume people who save aren’t total dunces.