Comments on: From The Archive: How To Make a Million Dollars http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html Finances transformed by faith Sat, 21 Nov 2009 05:12:43 -0800 http://wordpress.org/?v=abc hourly 1 By: Matt http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html/comment-page-1#comment-218 Matt Mon, 14 Jul 2008 20:10:08 +0000 http://biblemoneymatters.quicktofit.com/?p=40#comment-218 there's got to be a calculator for this somewhere, where you can enter your age, your savings so far, etc... there’s got to be a calculator for this somewhere, where you can enter your age, your savings so far, etc…

]]> By: Weekend Roundup | Remodeling This Life http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html/comment-page-1#comment-189 Weekend Roundup | Remodeling This Life Sun, 13 Jul 2008 10:08:07 +0000 http://biblemoneymatters.quicktofit.com/?p=40#comment-189 [...] How To Make A Million Dollars [...]

[...] How To Make A Million Dollars [...]

]]> By: Saturday Round-up | Oh My Aching Debts http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html/comment-page-1#comment-183 Saturday Round-up | Oh My Aching Debts Sat, 12 Jul 2008 15:25:29 +0000 http://biblemoneymatters.quicktofit.com/?p=40#comment-183 [...] out Bible Money Matters post on How to Make A Million Dollars.  It’s an oldie but [...]

[...] out Bible Money Matters post on How to Make A Million Dollars.  It’s an oldie but [...]

]]> By: Mo Money http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html/comment-page-1#comment-182 Mo Money Sat, 12 Jul 2008 14:58:58 +0000 http://biblemoneymatters.quicktofit.com/?p=40#comment-182 These articles are good to let us know that we all need to start out young to get the full benefit of compounding of interest. To counter the effect of inflation, shoot for an interest rate that is about 3% higher than the stock market. By investing in the stock market and real estate that combination should yeild more than 10% return. That can be accomplished by leveraging your investment. These articles are good to let us know that we all need to start out young to get the full benefit of compounding of interest. To counter the effect of inflation, shoot for an interest rate that is about 3% higher than the stock market. By investing in the stock market and real estate that combination should yeild more than 10% return. That can be accomplished by leveraging your investment.

]]> By: GFish http://www.biblemoneymatters.com/2008/07/how-to-make-million-dollars.html/comment-page-1#comment-181 GFish Sat, 12 Jul 2008 14:22:00 +0000 http://biblemoneymatters.quicktofit.com/?p=40#comment-181 I think these articles are always a great reminder of how important it is to save. But one thing they nearly always lack is that $1 million in 2048 (a 25 yr old today at age 65) is going to be SIGNIFICANTLY less than $1 million in 2028 (a 45 yr old today at age 65). 20 yrs of 3% inflation would mean that in 2048 one would need $1.8 million to be the equivalent of $1 million in 2028. Or to make it sound even worse... $1 million in todays money, you would need $1.8 million by 2028 and $3.2 million by 2048. (assuming 3% annual inflation). $1 million in 2048 would be equivalent of $305,000 today. Still a lot of money, but loses a lot of luster. I think these articles are always a great reminder of how important it is to save. But one thing they nearly always lack is that $1 million in 2048 (a 25 yr old today at age 65) is going to be SIGNIFICANTLY less than $1 million in 2028 (a 45 yr old today at age 65).

20 yrs of 3% inflation would mean that in 2048 one would need $1.8 million to be the equivalent of $1 million in 2028.

Or to make it sound even worse… $1 million in todays money, you would need $1.8 million by 2028 and $3.2 million by 2048. (assuming 3% annual inflation).

$1 million in 2048 would be equivalent of $305,000 today. Still a lot of money, but loses a lot of luster.

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