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@davidixoye Wage wasn’t discussed. He said if he invested $150k today, contributed $1k/month, and his investment increased at a rate of 8% per year, he will have nearly $10 million in 45 years. The fallacy is, he is using future value against the cost of items today.

@ethan43 TV was just an example. Just the first thing that came to my head.

@davidixoye Is the cost of a tv the same today than it was 45 years ago? Of course not. All of the items OP listed will cost significantly more in 45 years.

Sorry, I didn’t realize you were you the OP. If you want to consider wage increases, you will need to increase your monthly contribution at the rate of wage increases you anticipate. If you expect a 3% annual wage increase, then Year 2, your monthly contribution needs to increase to $1,030/month...

@davidixoye Inflation. The cost of those items will be significantly more in 45 years than today. Also, $10 million sounds like a lot of money, and it is, but in 45 years, it’ll feel and spend a lot less.