#when like doing the math you wont even fet close to the 10 mill at once

[aiam-maianaise]

Actually I’m gonna go more in depth here. Tags were before I wrote this part.

Even with a basic savings account, the 10million will quickly outsize what the 1k a day is capable of.

1k a day, may as many have said, reach 10million in 27 years.

But the 10million in those 27 years, even from just basic interest, could reach a lot more.

Like this:

I’ll put the interest rate at 3%. Modest conpared to some, but reasonable. It’ll partially account for how interest rates fluctuate form high at 5 to 6% to lows of 1%

Lets say you spend 1 million to get a house, pay off loans, decrease your weekly expenses.

9 million stowed away for interest.

After 1 year, 9 million becomes 9 270 000 (increased by 270 000)

The second year, that becomes 9 548 100 (278 100 increase)

Third year: 9 834 543 (286 443 increase)

Fourth Year: 10 129 579 (295 036.29 increase. Im lazy and ifnrinf the .29 tho)

At least point you have officially recouped the money you spent paying off loans/buying a house or using as simple spending money.

Fifth year: 10 433 466 (303 887 increase)

Sixth Year: 10 746 469 (313 003 increase)

Seventh Year: 11 068 863 (322 394 increase)

Eighth Year: 11 400 928 (332 065)

Ninth Year: 11 742 955 (342 027)

Tenth Year: 12 125 243 (352 288)

Eleventh Year: 12 489 000 (363 757)

And after 11 years the interest alone almost matches the amount you get each year from the 1k a day.

And with each year the bench mark to match the lump sum amount shifts ever farther.

(By 27 years, the lump sum person with a modest interest rate of 3% could potentially have gotten to 20 041 171$. Double the original sum, and double the ‘goal post’)

All this is with a more reserved interest rate. If you had a higher interest rate or were actively investing, this would be rather different. A 5% interest rate would’ve matched and surpassed the rate of 1k a day in the first year at 450 000 a year (not accountjng tax on the interest) even a 4% on 9 million puts you just under at 360 000 per year, meaning the bery next year youve surpassed it.

Additionally, if you are still working a job, you likely have saved additional money due to not having to pay off loans/pay rent or other stuff. Obviously i habe not accounted for that variable.

Any bad marhs is cause a) its 8 am and i havnet slept wheee (also probably did this a harder way than i needed to)

And also maube just me funbling them keys and numbers fjjfjf.

Explain your reasoning plzzz