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60 points
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Assuming you begin investing at the age of 20 and invest $554 per month for 45 years at a 6% growth rate, you would yield 1.4 million. Definitely not MILLIONS.

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13 points

6% is very conservative though. Even at 7%, which is a widely accepted inflation adjusted number, it’s over 2 mil.

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1 point

The other thing is that the monthly investment amount should increase when income does, which at minimum should match inflation.

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1 point
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8 points

And then you add the inflation and you actually just owe money. Got to get that third job at 65

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1 point

Inflation historically has been 1 to 4 %.

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