So i went to a focus group purely to provide feedback, now i have a 75 dollar giftcard which i have to select and withdraw but im not sure what to put the money towards? my older brother also got one. Yes i live with parents so most of my living needs are already covered.
What would be the smart thing to do here? what would you suggest and why so?
To do the math;
$75 x 25 years at (a conservative) 5% = ~$253
@7% it’s over $400.
Probably not worth your time to wait 25 years for that.
However,
$10/mo at 7% is much more interesting: $8,200
And $10/week: $34,500
Over 25 years this isn’t huge, but it’s *something.”
I used a very conservative % because past gains do not guarantee future performance, and one should not put all their eggs on one basket…But VOO over 30 years averaged 10%, so $10/week with $75 start @ 10% for 25 years is just under $55,000. Double it to $20/wk and you’ve got $108,000.
IDK what’s in store for the world, but for now, people should invest early and regularly. If it all goes to shit even money under the mattress won’t help, so go for the % IMO.
Yea, it would be more about starting a habit that would result in future security. In a perfect world, it starts here with $75 and a tenner every month, then they start putting in $20, then they ramp it up as they’re able.