Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you’ll have over $1 trillion.
Now do the same math for something like “I can start putting away significant money at 30, and by age of 60 it’s almost useless, I’d rather need it at 45 latest”, so, 15 years of compound interest? Nothing interesting will happen here. You’ll save enough to buy a house by 45, and you gotta be saving 1k a month. This is not a game changer.
Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you’ll have over $1 trillion.
Now do the same math for something like “I can start putting away significant money at 30, and by age of 60 it’s almost useless, I’d rather need it at 45 latest”, so, 15 years of compound interest? Nothing interesting will happen here. You’ll save enough to buy a house by 45, and you gotta be saving 1k a month. This is not a game changer.
Where are you getting 4% annual compound returns, though? That’s faster than the historical growth in global GDP over the equivalent time period.