Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you’ll have over $1 trillion.
Yes, it’s equally as unrealistic as leaving money idle for 532 yrs.
The only point I was making was that multiplying $5,000 a day by so many years is a silly comparison as it ignores the dominating factors to building wealth.
Billionaires shouldn’t exist but also they don’t exist because they stuff X dollars under their mattress every day.
yeah but 1.8 mil 532 years ago would have been valued like billions today. so you still need to be a billionaire to become that rich
Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you’ll have over $1 trillion.
Where are you getting 4% annual compound returns, though? That’s faster than the historical growth in global GDP over the equivalent time period.
Yes, it’s equally as unrealistic as leaving money idle for 532 yrs.
The only point I was making was that multiplying $5,000 a day by so many years is a silly comparison as it ignores the dominating factors to building wealth.
Billionaires shouldn’t exist but also they don’t exist because they stuff X dollars under their mattress every day.