Quote:
Originally Posted by stone hands
Why are you talking about a relatively piddly amount of money when the discussion is around people with extraordinary wealth and trying to use it as any kind of indicator?
Let's run this thought experiment with 10 million dollars and wait 5 years so they can do some truly rich people #### other than maybe get a new car or 1/5 of a middle class mortgage
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Oops bit of a delay responding… why did I only use $100k and not $10MM?
Simple… most people can relate to $100k, it’s conceivable they could get that much from an inheritance. Or more. It also represents ~2 years earnings for the average Canadian (ok that’s a rough WAG). Arguably there are maybe a small handful of people on all of CP that would ever see $10MM. Granted $10MM really changes lives and should do so permanently… but $100k also has huge potential IF USED WISELY.
Example; assume you’re 20 yrs old… win $100k. If ALL is invested and doubles every 8 years you’d never have to save again if you left it. by 60 you’d have over $3MM.