Quote:
Originally Posted by redpoint5
Wealth, like most things, develops slowly over time, and then all of a sudden.
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Exactly. Compounding interest takes time to work its magic. The earlier one starts the less is required per month.
"Branson" line is $100 a month from birth
"Kylie" line is $150 a month from age 15
"Joanne" is $200 a month from 25
"Karl" line is $1000 a month from 55.
All are calculated at a low 5% interest rate.
(Now the Bank of Bozeman's idea that you can earn a steady 5% for decades in a federal guaranteed bank account or CD hasn't aged well)
https://bankofbozeman.com/personal-f...-work-for-you/
