> A rational person will say, yeah but if you took your $1000 and invested at a regular rate of return of 10% and waited 50 years I'd have $17,000!
How about $117,000 though
How about $117,000 though
And that is all based on the premise of living to age 70.
Anyway, assuming a 3% inflation rate, the original $1K still turns into $30K after fifty years.
It's also worth pointing out that most people in the states qualify for Medicare Part A after they turn 65. Even if they don't, the average monthly health insurance premium for someone who is 70 is around $550.
So going off of your example, the original $1K purchases around four-five years of health insurance after inflation. This is a good deal.
>if _you_ took _your_ $1000 and invested at a regular rate of return of 10% and waited 50 years _I'd_ have $17,000! An excellent return on your investment except your entire life has gone by
If we took this at face value, it means the 17k must have been some sort of consulting fee or something. I guess he's saying don't wait 50 years for a 17k consulting fee which you can't really argue with. Either that or OP should check his math