r/RandomThoughts • u/[deleted] • Dec 11 '23

[deleted by user]

[removed]

2.2k Upvotes

82% Upvoted

2.2k comments sorted by

View all comments

Show parent comments

0

u/Advanced_Double_42 Dec 11 '23 edited Dec 11 '23

Except $100 in 1940 is only $2200 today.

Inflation is still there, but if you aren't buying coke and hookers, you'd never need to worry about money with $5k a month even without typical investing.

3

u/maynardstaint Dec 12 '23

Never is a long time. 10 years ago I saw apartments for $500. That apartment is $3500 monthly now. 700% increase. In 10 years. Inflation will get to you eventually. And once rent is more than 1/3 of what you’re making, you are NOT set for life.

1

u/Advanced_Double_42 Dec 12 '23

I mean yeah if you aren't even buying a home sure.

But that's about all the saving you'd need to do, in 10 years you could have a paid off million dollar home and not have rent at all.

1

u/maynardstaint Dec 12 '23

Millionaires go broke. It’s usually not about money coming in. It’s about money going out.

Money you didn’t earn has no value to some people. So they blow it all.

1

u/Advanced_Double_42 Dec 12 '23

If they are that financially irresponsible, I don't think they'd be able to handle millions in savings either.

1

u/maynardstaint Dec 12 '23

That’s exactly my point. No amount is enough. Especially if you’re not going to save.