Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

Re:Ask HN: Getting depressed about money. How do I make a me... by mcdoug on Wednesday July 22, 2020 @02:33PM (#23920126)

Mid 30s. I have a small but slowly growing stock portfolio. If I keep going the way I am, in 5 years I might be able to buy a Model 3 with its worth. My family growing up invested in my education, not in a stock portfolio, so what I have is skills, not cash.

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Re:Ask HN: Getting depressed about money. How do I make a me... by marketgod on Thursday July 23, 2020 @09:51AM (#23927347)

Then maybe add more because the market returns are suppose say 5%, but they are generally much more higher, around 10% over a 15-year period. Over 14-years that money doubles, but the market is performing at 10%, and even higher lately, so that's 7 years. So instead of buying that model 3 in 5-years if you continue adding small increments that Model 3 turns into a Model S in 7-years.

The issue is many people hold a savings account in cash but then inflation eats you up, or they store it in a savings account, but then you break even with inflation. Taking advantage of compound interest is huge.

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