Quote from: o_e_l_e_o on September 06, 2018, 01:29:28 PM

Quote from: franky1 on September 06, 2018, 03:48:02 AM

READ SMALL PRINT: "this example assumes 7% returns"
LOL.. bank account offering 7% interest.. pfft

dare you to open excel and do a chart with REAL interest rates.
ill give you a hint at 0.05% interest Chris would invest $200k and get $200,390 bank balance after 40 years

Firstly, $200,000*(1.0005^40) = $204,039, so your maths is wrong.

Secondly, if your bank account is only offering 0.05%, you are getting ripped off big time. You can easily find accounts of 2-4% at the moment.

Thirdly, pension savings are not that same as bank accounts. The average pension fund last year returned 10%: https://www.yourmoney.com/retirement/average-pension-fund-returned-10-2017/

firstly this topic is about bitcoin terminology.. i tried to just mention bank interest and then bring the topic back inline..
secondly its not invest $200k and hold $200k.. its invest $5k every year..
EG year one $5k interest = $2.50
your math is year one $200k, interest $100
so your math is trying to assume $100 * 40 =$4k extra)
thats not interest of actual deposits and balances. and its not compounding that interest either..

and thirdly the guy that meandered about how he thought people not saving was stupid because they dont understand compounding.. he never mentioned retirement. he just said 'save'.

anyway
fiat saving/investing/retirement. is stupid.
put $5k into any fiat investment. and after fiats hypr inflation that will happen once the FIAT government bond bubble bursts and they are demanded to repay the contract rather than the minimal payments.. hypr inflation will make the $5k only buy a loaf of bread for the whole $5k (research zimbabwe dollar)

thats why im sticking with crypto. to hedge the fiat debt/hyperinflation events of the future
lastly. end VALUE of pension can be less than you put in. (use the "how many loaves of bread will that buy me" whn thinking of the future of FIAT savings/retirement plans)