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this post was submitted on 26 Oct 2024
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That's not how exponential growth works. The pay increase would be in the ballpark of 50% per year for that amount of gain in 35 years.
And remember, wealth accumulates in passive investments, so even if you made $7.25/hr for 35 years, you'd have over $1m if you didn't spend any of it and it accumulated at over ~3% per year.
Oh, you're right. Although 50% per year is still insane.
And I definitely forgot about investing, but also didn't account for inflation, which maybe would cancel e/o out.
Doesn't really matter if you consider the difference between a million and a billion is roughly a billion.