JimBowie1958
Old Fogey
- Sep 25, 2011
- 63,590
- 16,761
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- #41
Lets say we have a young person who makes average money for his life span, and right now that is around$50k annually.
Lets say he saves $450 a month, roughly 10% of his earnings.
After 40 years, he will have accumulated $1,054,629.94
I would bet good money that kid is saving a lot more than 10% of his earnings from mowing and will likely save till he retires in about 50 years.
That's a lot to take away from very little information, and about a kid.![]()
I am simply speaking to what is possible with thrift and hard work, lol, not just this one kid.