Great video! Just want to point out for the people watching that the long term return of the s&p500 is more realistically around 7% when adjusted for inflation. Also timing of your buying can have a big effect on your returns. Also choosing the lowest cost(fees) fund, ETF etc. is important because they have a big effect on compound interest. Bonus tip: choose the accumulating ETF, which reinvests the dividends automatically tax free = better returns in long run!
I use my TFSA since you don't pay taxes when you take your money out (because you're putting in post-tax income). As for the right index fund, I would go on vanguard or blackrock and sift through their etfs. Personally, I invest in xeqt, but there are many alternatives. A lot which specific one you choose depends on how much risk you're willing to take and how long you have to invest. there are tons of videos on UA-cam if you wanna learn more!
What’s the alternative? $1M will be $1M if not more, if you’re investing it. Investing grows and compounds your money at a rate greater than inflation.
As a 30-something, this really just makes me feel like i should say fuck it. 1 million dollars 30 years from now is probably gonna buy 2 candy bars and a soda.
1mm at 60 has a name it’s called mediocre millionaire while penny pinching their budget all their adult life. Don’t listen to this nonsense live your life now
Great video! Just want to point out for the people watching that the long term return of the s&p500 is more realistically around 7% when adjusted for inflation. Also timing of your buying can have a big effect on your returns. Also choosing the lowest cost(fees) fund, ETF etc. is important because they have a big effect on compound interest. Bonus tip: choose the accumulating ETF, which reinvests the dividends automatically tax free = better returns in long run!
I’m super happy to have heard of compound interest a while ago. I’ve been 18 for a month and I’ve already started.
Great video. Thanks for sharing this informative take. Keep it up!
I wish I would've started 10 years earlier. I would most likely have double the amount of money that I have today.
would love to have more updated video info on this 😄 what account is best to avoid taxes ? How do we choose the right S&P 500 for canadian
I use my TFSA since you don't pay taxes when you take your money out (because you're putting in post-tax income). As for the right index fund, I would go on vanguard or blackrock and sift through their etfs. Personally, I invest in xeqt, but there are many alternatives. A lot which specific one you choose depends on how much risk you're willing to take and how long you have to invest. there are tons of videos on UA-cam if you wanna learn more!
Hi Step, please can you share the calculator you used for that compound interest
What type of account is this? My Roth will grow to over $2 million by the time I retire and I put about $600 per month towards a Roth 401(k)
The 8th wonder 😂
Albert Einstein.
Angkor wat Temple is the 8th wonder as per UNESCO.
How can start
Your 401K at your job.
Give up buddy it’s to late
1 MILLION NOW IS BARELY ANYTHING. In 40 YEARS THAT WILL BE ALMOST NOTHING 🤷🏾♂️
What’s the alternative? $1M will be $1M if not more, if you’re investing it. Investing grows and compounds your money at a rate greater than inflation.
As a 30-something, this really just makes me feel like i should say fuck it. 1 million dollars 30 years from now is probably gonna buy 2 candy bars and a soda.
I’m weak a candy bar and some sodas
1mm at 60 has a name it’s called mediocre millionaire while penny pinching their budget all their adult life. Don’t listen to this nonsense live your life now