Re:Amazon engineer will let strangers manage his $50,000 sto...
by Pica_soO on Friday July 07, 2017 @02:05AM
(#14716407)
Toy money, i guess.
Its suprising who is a millionair and who isnt. In a car factory where my brother works, one of the workers, financing a house with his money and then houses with money from the house, became a millionaire without anyone in the above layer noticing.
So if he gets chewed out by one of his fore-masters or executives, they are - not knowing- chewing out somebody who could quit any time.
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Re:Amazon engineer will let strangers manage his $50,000 sto...
by Taek on Friday July 07, 2017 @09:30AM
(#14718148)
All it takes is 10-20 years of saving 30+% of your income. Most people balk at that savings rate, but anything white collar pays enough to have that sort of savings if you are willing to life a more modest lifestyle than your socioeconomic peers.
10 years later the interest you earn on it will be more than the 30% you are putting in.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by Pica_soO on Friday July 07, 2017 @09:45AM
(#14718246)
It helps if you have entertainment/activitys that are solitary, cheap and infinite.
Games, books, whatever occupy you without draining resources.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by x2f10 on Friday July 07, 2017 @02:43PM
(#14720932)
>10 years later the interest you earn on it will be more than the 30% you are putting in.
How?
5% interest, $1,000 monthly injections, compounded monthly over 10 years. $120k in deposits, $36k in interest.
Re:Amazon engineer will let strangers manage his $50,000 sto...
by user5994461 on Friday July 07, 2017 @09:52AM
(#14718284)
That was automatic for most people not so long ago, at the time house were bought on 10-20 years mortgages.