Comment Re:I can't believe... (Score 1) 151
You would be surprised how little money it takes to make a big pile if you have time on your side.
There are a million websites that will do these calculations for you. Here's one that will let you start with $0 and save $50 a week for 30 years at 8%. It's not even the one that I used for my original quote. If you really thought that my numbers were faked then you should spend some time playing with one of these websites to get an idea as to what is possible. The really crazy thing is if you take that same $325K and leave it invested at 8% for another 10 years (without adding any more money) it more than doubles.
I drive a 1996 Honda Civic that my father gave to me brand new in 1995. It doesn't have air conditioning, and I am tall enough that I have never really fit inside. In recent years it has become sort of cool to people that like Civics, but that's definitely a new thing. The car is a piece of crap at this point, and it was never more than the most basic form of transportation, but it is still my daily driver. Sometimes I think of the money that I have saved not having a car payment for the last 30 years and it boggles my mind.
Saving $50 a week for 30 years would put you over the median net worth of Americans aged 45-54 (according to this article by Fidelity.