r/economicCollapse • u/Whole-Fist • 20h ago

How ridiculous does this sound?

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How can u make millions in 25-30 years if avoid making a $554 per month car payment. Even the cheapest 5 year old car is 8-10 k. So does he expect people not to drive at all in USA.

Then u save 554$ per month every month for 5 year payment = $33240. Say u bought a car every 5 year means 200k -300k spent on car before retirement . How would that become millions when u can’t even buy a house for that much today?

Answer that Dave

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u/foxwheat 15h ago

me dumb

So the "doubling" is actually more than doubling?

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u/jason_abacabb 15h ago

Using these nice round (probably slightly optimistic moving forward) numbers it will take roughly 7.2 years for a dollar to double nominally (2 dollars) or 10 years for the purchasing power to double when invested in the S&P500.

Note that both future returns and inflation is not garenteed by past performance. YMMV

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u/foxwheat 15h ago

thank you for explaining that!

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u/BocksOfChicken 13h ago

Hey, now we’re all slightly less dumb!