Re:Show HN: Simple monthly passive income calculator
by imba404 on Saturday February 17, 2018 @11:23PM
(#16404440)
Great tool, will have to show my family
Did you account for the principal also accruing value while you're saving up?
E.g. In the HY Savings account for a 1K/month passive income, you need $827,586. If you saved $1K/month, and reinvested that income until you got the $827K, it should only take you 20 years, not 23.
The error gets bigger when looking at longer time frames and higher returns.
Did you account for the principal also accruing value while you're saving up?
E.g. In the HY Savings account for a 1K/month passive income, you need $827,586. If you saved $1K/month, and reinvested that income until you got the $827K, it should only take you 20 years, not 23.
The error gets bigger when looking at longer time frames and higher returns.