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Reply to "How long to get from $2M to $3M"
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[quote=Anonymous][quote=Anonymous]These calculations are all way off because they are assuming all OP's line items will grow at 6%. Cash, vehicles, and jewelry won't grow at that rate. Housing equity may not either. The 6% growth rate should be for invested assets only. [/quote] No, I was an earlier person who estimated 5 years. With updated information that OP gave they have 1.3m in invested assets with 95k annual contributions to those. That would be 2.3m in 5 years with a 6% estimate. They add 24k to their 500k mortgage annually, assume a conservative 3% growth that's about 710k. So even without other assets, it's reasonable to predict 5 years. That said, the market could go down 30% and all bets are off--can't really predict this kind of short term growth.[/quote]
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