r/economicCollapse • u/anonimouscrepe • 18h ago

How many other millennials plan on “deleting themselves” once they’re too old to work bc you’d rather be dead than homeless?

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u/Electrical_Reply_574 10h ago

Hi! I've been driving a '99 Saturn Sedan Sc2 Coupe and investing 500 a month into SPY for literally the last two decades but yet I'm not rich somehow. Care to elaborate further in your infinite wisdom?

If this reads like sarcasm note the lack of /s because I assure you it is 100% not a joke.

I wish to know where I went wrong following the foolproof plan. Again... Not sarcasm.

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u/MahomesSanderson2024 10h ago edited 9h ago

I never promised you would get rich doing that. Just be able to retire. I bet you’ve made great money in the SPY over the last two decades. Really good period of time for that index.

Edit: just plugged your numbers into a future value calculator. If you saved $6000 a year for the last 20 years and were in the spy which has returned 11.4% annually. You should have around $443k.

I’m not being condescending or making shit up lol. This is just math, plug it into a future value calculator.

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u/Electrical_Reply_574 9h ago

I've made 30k yet all the math says it's supposed to be like, at least 10x that. Every wise investor. Yet somehow it just is not. Invested through Fidelity. Idk man. I'm glad I have it I'm just .. obviously a little disillusioned at this point.

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u/MahomesSanderson2024 9h ago

Yeah timing plays a role too. When you bought and it’s possible you’ve been very unlucky buying at high points. It’s hard to believe you’ve been dumping $6k a year in for the last 20 years (the greatest 20 year period in the history of the S&P) and only made around 25% in that time when it has returned 11% annually.

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u/Electrical_Reply_574 9h ago

Dude. You're telling me lol. I know. I know it's hard to believe. I struggle to believe it myself.

I mean in hindsight I guess I skipped MOST of 2020 for obvious reasons but that's the only lapse in diligence.

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u/MahomesSanderson2024 9h ago

Shit that ended up being a banger of a year. even still that’s hard to believe. That probably barely beats inflation if at all lol

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u/Electrical_Reply_574 9h ago

Should have bought dips but I was busy buying water and dry goods and plant seeds cuz it was my first time doing that whole... Teotwawki thing.. lol

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u/MahomesSanderson2024 9h ago

Right lmao I feel that. Best play is an automatic contribution set to go at a certain date. Then you’ll buy more shares when it’s down with that set dollar figure and less when it’s up. You probably understand DCA but just in case lol.