I'm 17 and trying to figure out a future for myself. I live in a wealthy area and see a lot of wealthy people constantly, so naturally I aspire to be like that myself someday.
The career I'm thinking of has an average salary of 120k/yr. If you saved $1000 a month (~15% after taxes) with a simple 8% S&P index, you'd have, after 30 years, 1.4 million dollars. With that kind of money you could live off the interest alone, and if you had a spouse with a similar income then double that.
I know that's a really gross oversimplification of things, but it seems almost.. too easy to become a millionaire? Is this a realistic plan or am I missing something major?
Submitted November 06, 2021 at 11:22PM by Wonderful_Ad6831 https://ift.tt/3BYSw6A
