Just Mulling Some $Figures Over

[abbey1227]

sorry the Chart did not stay aligned, I was thinking about the so called 'investment' in education in the US...........

Future Value of Investing $14,000 every year

Return 0% 2% 4% 6% 8% 10% 12%
Year 1 $14,000 $14,280 $14,560 $14,840 $15,120 $15,400 $15,680
Year 2 $28,000 $28,566 $29,142 $29,730 $30,330 $30,940 $31,562
Year 3 $42,000 $43,137 $44,308 $45,514 $46,756 $48,034 $49,349
Year 4 $56,000 $58,000 $60,080 $62,245 $64,496 $66,837 $69,271
Year 5 $70,000 $73,160 $76,484 $79,980 $83,656 $87,521 $91,583
Year 6 $84,000 $88,623 $93,543 $98,779 $104,349 $110,273 $116,573
Year 7 $98,000 $104,395 $111,285 $118,705 $126,697 $135,301 $144,562
Year 8 $112,000 $120,483 $129,736 $139,828 $150,832 $162,831 $175,910
Year 9 $126,000 $136,893 $148,926 $162,217 $176,899 $193,114 $211,019
Year 10 $140,000 $153,631 $168,883 $185,950 $205,051 $226,425 $250,341
Year 11 $154,000 $170,703 $189,638 $211,107 $235,455 $263,068 $294,382
Year 12 $168,000 $188,117 $211,223 $237,774 $268,291 $303,374 $343,708
Year 13 $182,000 $205,880 $233,672 $266,040 $303,755 $347,712 $398,953
Year 14 $196,000 $223,997 $257,019 $296,003 $342,055 $396,483 $460,827
Year 15 $210,000 $242,477 $281,300 $327,763 $383,419 $450,131 $530,126
Year 16 $224,000 $261,327 $306,552 $361,429 $428,093 $509,144 $607,742
Year 17 $238,000 $280,553 $332,814 $397,114 $476,340 $574,059 $694,670
Year 18 $252,000 $300,164 $360,127 $434,941 $528,447 $645,465 $792,031
Year 19 $266,000 $320,168 $388,532 $475,038 $584,723 $724,011 $901,075
Year 20 $280,000 $340,571 $418,073 $517,540 $645,501 $810,412 $1,023,204
Year 21 $294,000 $361,383 $448,796 $562,592 $711,141 $905,453 $1,159,988

Year 22 $308,000 $382,610 $480,748 $610,348 $782,032 $1,009,999 $1,313,187

Wanna guess where I'm going with this?  

[Prometheus]

No

[abbey1227]

Jul 26, 2021 5:02:39 GMT Prometheus said:

No

Guess we're redefining the word 'investment' now, too.

[Prometheus]

Jul 26, 2021 5:08:26 GMT abbey1227 said:

Jul 26, 2021 5:02:39 GMT Prometheus said:

No

Guess we're redefining the word 'investment' now, too.

Or you just don't understanding the existing one....

[ant-mac]

Jul 25, 2021 13:22:35 GMT abbey1227 said:

Wanna guess where I'm going with this?  

Remedial math class during your summer holidays?

[abbey1227]

Jul 26, 2021 5:20:49 GMT Prometheus said:

Jul 26, 2021 5:08:26 GMT abbey1227 said:

Guess we're redefining the word 'investment' now, too.

Or you just don't understanding the existing one....

Every single American could have had a pretty sizable nest egg set aside for them. A sustainable form of UBI, if you'd prefer.

Instead, I bump into supposed grads that were never taught some very basic skills........or common sense. imho 

[Prometheus]

Jul 26, 2021 5:29:33 GMT abbey1227 said:

Jul 26, 2021 5:20:49 GMT Prometheus said:

Or you just don't understanding the existing one....

Every single American could have had a pretty sizable nest egg set aside for them. A sustainable form of UBI, if you'd prefer.

Instead, I bump into supposed grads that were never taught some very basic skills........or common sense. imho 

I'm curious about where people are supposed to get $14,000 a year to save?

$15/hr at 40 hrs/wk = $31,200 -12% federal tax (I won't even bother with state income tax) =  $27,456 -$14,000 = $13,456/12 = $1,121.33 left over every month for rent, car payment, car insurance, health care insurance, co-pays, deductibles, utilities, phone service, and maybe even have some left over for that bread and water you love so much.

Also, let's talk about the fact that the best MMAs out there only have an APY of 0.61%, which (without doing the math) means that - should this imaginary earner last the whole 22 years to the age of 40 to 45 - they'll have a whopping $330k-ish nest egg with which to start their lives for real or about $916.67 a month to add on to their salary.

You did it , Abs! You managed to kill off an entire generation while still managing to make sure that the very rich get even richer and hold even more control over the lower classes!

This is where you bombard me with caveats and whatabouts because you think that further complicating an already complicated system will lead to some sort of "gotcha" or that I'll simply tire of calling you ignorant and/or stupid, leave the conversation, at which point you will claim "victory" based on the idiotic notion that I have forfeited rather than facing the truth that your ignorance is exasperating.

Let's just skip to that last part now, shall we?

[abbey1227]

Jul 27, 2021 4:35:30 GMT Prometheus said:

Jul 26, 2021 5:29:33 GMT abbey1227 said:

Every single American could have had a pretty sizable nest egg set aside for them. A sustainable form of UBI, if you'd prefer.

Instead, I bump into supposed grads that were never taught some very basic skills........or common sense. imho 

I'm curious about where people are supposed to get $14,000 a year to save?

$15/hr at 40 hrs/wk = $31,200 -12% federal tax (I won't even bother with state income tax) =  $27,456 -$14,000 = $13,456/12 = $1,121.33 left over every month for rent, car payment, car insurance, health care insurance, co-pays, deductibles, utilities, phone service, and maybe even have some left over for that bread and water you love so much.

I latched onto the $14,000/yr as the figure tossed out as an average spent per student here in WI.     'Special' students are even more costly.

I'm guessing it costs more in some states and less in others.

A big argument in the past is WHAT is the goal of educating the masses? If the answer is so they can get jobs and support themselves, I'm posturing that for many, many millions of Americans this has became a rather poor 'investment'. I could include myself in that group, if you'd like. 

[abbey1227]

small world.......... this article suggests just going BIG with only $10,000/year for the first 10 years.

ofdollarsanddata.com/go-big-then-stop/?utm_source=pocket-newtab


Go Big, Then Stop
Posted July 27, 2021 by Nick Maggiulli

If I had to convince my 22 year-old self to save more money, here is what I would say:

Go big, then stop.

This phrase might not mean anything to you yet, but in a few moments it will.

What I’m talking about is a savings philosophy so effective that it can put your future finances on easy mode. It can help you to build wealth for decades while you literally do nothing. It may just be the lowest effort way to set yourself up for a nice retirement. How does it work?

You save as much as you can as early as you can, then you stop saving altogether (if you want). Go big, then stop.

Why is this strategy so effective? There are two reasons:

1. Money invested earlier in time typically grows more than money invested later in time.
2. Compounding money is easier than saving money.

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Now imagine if instead of starting with his 22 yr old self, that money was instead set aside at the age of 4 until he was 18 and allowed to keep growing?