Hey all,
I am reading The Millionaire Fastlane book and I have a question with regards to the calculation in Slowlane section.
"A Slowlane guru preaches that a $10,000 investment grown at 15% will be worth over $2.5 million in 40 years!!!"
In his calculation he reaches this number using $10,000 investment and no other monthly or annual contribution. From what I read in other investment books, the general advice is to regularly invest. Noone I knkw suggests putting $10K and never investing again.
With this in mind, if you have $10K and you invest $500 every month you should have $13,353,177.31
Can anyone explain why he ignores the monthly contribution?
I am reading The Millionaire Fastlane book and I have a question with regards to the calculation in Slowlane section.
"A Slowlane guru preaches that a $10,000 investment grown at 15% will be worth over $2.5 million in 40 years!!!"
In his calculation he reaches this number using $10,000 investment and no other monthly or annual contribution. From what I read in other investment books, the general advice is to regularly invest. Noone I knkw suggests putting $10K and never investing again.
With this in mind, if you have $10K and you invest $500 every month you should have $13,353,177.31
Can anyone explain why he ignores the monthly contribution?
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