Here is the link.
spending habit and saving habit.
68% other liabilities -
59% do not know how to start
The issue - Waiting to invest
Thousands of dollars difference
Cost #1 Inflation, price inflation
Government print more money
1.8% inflation rate
1.6% inflation rate
Purchase power - saving account GIC - less risk, less return
CPI inflation rate
Cost #2 Opportunity cost
Time value of the money -
Me
1000 -> 1020 (one year)
You
1000
Grow exponentially. Compounding
8th wonder of the world - start early, cut high exponential return
$800,000 Age 65
1,667/ month, age 25
Average return 6%
$400/ month
Age 45
6%
$1,764/month
No comments:
Post a Comment