Ka-pi96 said:
numberwang said:
Many long term saving accounts do not require a minmum, but I would prefer something tangible like stocks, either a index or a larger portfolio from companies that you like. You still might have to save the first thousands without interest helping you...
Stocks have a long term average returns of 7% over the last century, so it is attainable. Btw if you save 10$ a day with 7% over 45 years you will have more than a million.
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And many savings accounts don't offer anywhere near 3%
As for stocks, no guarantee at all you'll get the average (or even make a profit at all). Significantly harder to do anything in stocks with small amounts like $5 as well.
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And like the stock fees everytime you buy some. So $3 or $10 a day is unfeasible.