Do you know how long it would take for $1,000 at 2.5% interest to become $1,000,000? Just 281 years. I know, that seems like a really long time, but wouldn’t it cool if you found out that your ancestor did that back in 1728? Doesn’t seem as long going back, huh? And the cool thing about compounding interest over that long is that one additional dollar today would yield over $1,000 in the year 2290. (If I live into my 320s I plan to be one rich dude.)
2 comments:
Families (populations) usually grow compounded as well so wouldn't you expect to split the piled up money with several cousins, second cousins, aunts, uncles, parents, etc.? Hope you live to 320!
yeah, you're right. I'll spend everything now.
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