Thread: Money Investing megathread extravaganza
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Old 01-07-2021, 06:59 PM   #6578
Hog's Gone Fishin Hog's Gone Fishin is offline
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Join Date: Nov 2001
Casino cash: $-1429523
There was a guy interviewed on CNBC this morning ,I didn't catch his name but he's a billionaire. He said the government should give every person when they're born $2000 and it's put into an index fund and can't be touched until 65 and then the government could do away with Social security.

So I put that into a calculator at 10% and you would have 1,294,931 at age 65. Or $5395/month for 20 years if you don't count continued interest after 65.

At 12% it gives you $4,695,713. Which is $19,565/month

Just think how much that would save the government. One time payment of 2K versus 20 years of 2K a month.
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