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A comment on Amazon engineer will let strangers manage his $50,000 stock portfolio 'forever'. Parent comment

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.

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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.

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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.

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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.
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