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this post was submitted on 13 Oct 2024
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Asklemmy
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You can, if you can. I think most people can't do that though.
The better lesson would be to teach compound interest. Somebody that invests $2k every year for 10 years and then stops will have more money than somebody who starts in year 11 and does so for the rest of their life.
That's sort of the point I was trying to make with an example, but it appears it fell flat. Compound interest and resisting lifestyle inflation, can really help people in the long-run.
Why don't you save All the money you've earned?
If I didn't eat, I'd have money to burn!