608
As a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone π
(slrpnk.net)
this post was submitted on 29 Oct 2024
608 points (93.6% liked)
Fuck Cars
9579 readers
586 users here now
A place to discuss problems of car centric infrastructure or how it hurts us all. Let's explore the bad world of Cars!
Rules
1. Be Civil
You may not agree on ideas, but please do not be needlessly rude or insulting to other people in this community.
2. No hate speech
Don't discriminate or disparage people on the basis of sex, gender, race, ethnicity, nationality, religion, or sexuality.
3. Don't harass people
Don't follow people you disagree with into multiple threads or into PMs to insult, disparage, or otherwise attack them. And certainly don't doxx any non-public figures.
4. Stay on topic
This community is about cars, their externalities in society, car-dependency, and solutions to these.
5. No reposts
Do not repost content that has already been posted in this community.
Moderator discretion will be used to judge reports with regard to the above rules.
Posting Guidelines
In the absence of a flair system on lemmy yet, letβs try to make it easier to scan through posts by type in here by using tags:
- [meta] for discussions/suggestions about this community itself
- [article] for news articles
- [blog] for any blog-style content
- [video] for video resources
- [academic] for academic studies and sources
- [discussion] for text post questions, rants, and/or discussions
- [meme] for memes
- [image] for any non-meme images
- [misc] for anything that doesnβt fall cleanly into any of the other categories
Recommended communities:
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
Assuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.
6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it's over 2 mil.
The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.
And then you add the inflation and you actually just owe money. Got to get that third job at 65
Inflation historically has been 1 to 4 %.