@shoptastic wrote:
What foods do you buy that are cheap, healthy, and filling?
Looking for more ideas to save.
@shoptastic wrote:
What foods do you buy that are cheap, healthy, and filling?
Looking for more ideas to save.
@Niner wrote:
If you don't buy packaged or prepared food, you can save a ton.
@Niner wrote:
I don't even know what to buy when I get these $15 supermarket reimbursement shops.
@Irene_L.A. wrote:
I do drink a lot of iced tea all day sweetened with Stevia.
@shoptastic wrote:
[www.youtube.com]
This is a famous rant from Dave Ramsey saying that saving $100/month and investing it from age 25 to 65 (or any 40-year span) nets you a little over $1 million.
He thinks almost anyone can do it.
Who wants to try?
@Jbrz123 wrote:
His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.
You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.
@Jbrz123 wrote:
His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.
You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.
@shoptastic wrote:
What foods do you buy that are cheap, healthy, and filling?
Looking for more ideas to save.
@Jbrz123 wrote:
His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.
You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.
@Madetoshop wrote:
Saving regularly, no matter what the amount is a good practice/habit. You don't need Ramsey or Edelman to advise you to do so.
@Flash wrote:
Ramsey is correct in that wealth comes from thrift plus investment. Sure, you might invent the next outrageously successful widget or you may have an inheritance or you may win the lottery, but if you haven't learned thrift plus investment you are likely to blow through those funds as well. I personally know a number of millionaires and they have all acquired the bulk of their wealth through 401k and 403b retirement plans that automatically took a small amount from each paycheck and there was some employer match. As they saw their wealth grow, they began other savings and investment vehicles.
Over the last 50 years the stock market has returned a little more than 10% per year on average--this is if you stayed invested through all the upturns and downturns in quality stocks. In the past if you knew nothing of the markets you were encouraged to purchase mutual funds that had a manager handling the investment of your funds, for which a fee was charged usually up front to buy the fund and then a smaller fee annually. These days you can purchase "index funds" (also called ETF) which are buying into a portfolio of stocks that mirrors the index. So you can buy the 'DOW' as stock DIA, the 'Nasdaq' as QQQ and the 'S&P 500' as SPY. Many of the discount brokerage houses are allowing you to purchase these ETFs with no transaction fees. This makes it feasible to make systematic small deposits to a brokerage account and even buy these index funds one share at a time.