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Cake day: July 27th, 2023

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  • I love the “it’ll be 170k in account after 18 years of you contribute to it.”. Just ran that math through a compounding interest calculator and you’d need to contribute 300 bucks a month to the account on top of 10% yearly returns to get to 170k after 18 year. Over half of Americans say they don’t have 500 bucks in the back ain’t no one throwing 300 bucks a child into an account.

    So almost all or those accounts are going to have less than 6 grand in them and Republicans will blame poor people for not managing their non-existent money better.

    Edit: just did 700k at 35 and that came out to only 200 bucks a month over the full 35 years but if you take the 170k were assuming this 18 year old has and don’t touch it at 10% you end up with 860k at 35. Ted Cruz needs to do better math.