Don't BS. $3.1m in 20 years time is still a lot of money. Many people may not even have a net worth of $1m in 20 years time.
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Originally Posted by Unregistered
haha. You forgot about the inflation. Most people forgot this.
The $10,000 he will get at age 67 is not the $10,000 today. If inflation is 3% a year, that $10,000 is worth only $5,500 when he reaches 67. Hopefully it will give a comfortable level of living, but it certainly not a lot of money.
Do you remember the Old Chunky curry puff when it was at $1 per piece? That wasnt too long ago, now one piece is selling for $1.40. A 40% increase!
Really in 20 years time, nobody would want to pick up a $5 note on the floor. Probably cant even pay for a cup of Kopi-O. scary isnt it?
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