Quote:
Originally Posted by Robert_Nash
If a person simply saved $100/month starting at age 18 and never did anything more than that their entire life; they would still have over $3M by the time they were 65 years old. That's the power of compound interest; those who understand it have paid to them; those who don't pay it to someone else.
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Sorry but I just cant let this fly, not saying not to save but compound interest with the monetary system we have now is an illusion.
Compound interest huh? How about compound inflation? Will that $3M buy what it could at retirement as it did when the person started saving? No way!!
47 yrs ago a dollar went a long way, now not so much. Why? Weve had inflation almost EVERY year since the damn 30's that why.
Theres a huge difference between nominal returns (on paper) and real returns (purchasing power after inflation). Can I get some real deflation please!
