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Reply to "Is saving/investing actually a crappy way to get rich?"
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[quote=Anonymous]OP, I agree that your online calculator is terrible. You can do better with the free planning software that Fidelity offers beginner investors (it’s a Monte Carlo simulation). There are many of these available through financial planning services. I like Smart Asset’s calculators when I do my own wealth planning. You aren’t calculating compound returns accurately. I’m wondering if your calculator has input assumptions that are overly pessimistic. We have a lot of reasons to be concerned about future growth, but that’s not happening yet. It will take a few years of consistent investing before you start to see the effects of compound growth. The last year had been weirdly good so buckle up but be patient and don’t stop investing. Keep it simple now. Total stock market index funds that are low cost are a great way to get going.[/quote]
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