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urgjotonlkec t1_j3riarg wrote

Reply to comment by Elbynerual in [OC] Mr. Buffett - The Older The Wealthier by LeverageShares

That doesn't match the data here..

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Elbynerual t1_j3rnuai wrote

Oh? Where do you think the initial 5k came from? That's what I'm referring to. The data starts at 5k. And that was many decades ago, where current inflation makes it close to 1 million in today's money

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positive_bias t1_j3rp7ml wrote

Based on average inflation rates, he was 14 in 1944/45, $5,000 in 1945 equates to about $83,000 in 2022. That’s a tad short of your $1 million claim.

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Elbynerual t1_j3rtmtf wrote

Oh that's right, 100k is what I had read. Sorry, my mistake.

But yeah starting with 80k is a hell of a lot easier than starting at 0

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positive_bias t1_j3sz37w wrote

Still a little over 20% error margin with a $100k claim.

In the world of business capital, for a startup $80k is really not that much.

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twisted_cistern t1_j3tgfq7 wrote

But if you're a teenager without expenses is quite a nice start.

My friend had a job during high school and invested it all. When he went to grad school he bought a house with a ton of bedrooms (in a historically polygamous town) and rented them to his classmates...

On the road to 10 billion the difference between starting at 80k and a million isn't that big.

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