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IncRnd
on May 7, 2018
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96-Year-Old Secretary Quietly Amasses Fortune, The...
That's too clever by half.
In 1950 the average income was $3,210. How would a secretary get $6,300 to invest?
TheCoelacanth
on May 7, 2018
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The 7% rate quoted is after inflation. The actual historical rate of return was more like 11% over that time period if you ignore inflation.
chubot
on May 7, 2018
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See my response here:
https://news.ycombinator.com/item?id=17011298
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In 1950 the average income was $3,210. How would a secretary get $6,300 to invest?