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Inflation protection is crucial if you buy long-term care insurance before age 65, as coverage can lose 50-70% of its value in 20 years. Opt for 5% compound inflation protection for the best covera...
Read more1 in 292,201,338. You’re 584x more likely to be struck by lightning this year. Expected value per $2 ticket is strongly negative.
Read moreNo from an expected value perspective. If you enjoy it as entertainment, treat it like a small, capped entertainment expense—not an investment strategy.
Read moreEven $20/week invested at 7% grows to about $100,000 over 30 years. The compounding benefit dwarfs the near-zero probability of a jackpot.
Read moreSome have higher win odds but much lower payouts; expected value is still negative. State lotteries are designed to generate revenue, not investor returns.
Read moreAutomate transfers to investments, or set a reward system: invest first, then allow a small entertainment budget. Use our invested-instead calculator to visualize outcomes.
Read moreTo use the calculator, enter the total miles driven and the amount of fuel consumed in gallons. Click 'Calculate' to see your miles per gallon (MPG) efficiency.
Read moreYou need to know the total miles driven, the gallons of fuel used, and the price of gas. Accurate input will give you a better understanding of your driving costs.
Read moreYes, the Mileage Mpg Calculator can be used for any vehicle, including cars, trucks, and motorcycles. Just make sure to input the correct miles and fuel used for accurate results.
Read moreIt depends on your starting savings, monthly contributions, and investment returns. With consistent $1,000/month contributions and 8% annual returns, starting from $0, you'd reach $1 million in abo...
Read moreCompound interest allows you to earn returns on your returns, leading to exponential growth. For example, if you invest $500 a month at 8%, after 30 years, you'll contribute $180,000 but earn about...
Read moreSaving 15-20% of your income is the standard recommendation for retirement. To become a millionaire faster, aim for 25-35% of your income. On a $75,000 salary, saving 20% ($15,000/year or $1,250/mo...
Read moreInflation reduces the purchasing power of your future million dollars. With 3% annual inflation, $1 million in 30 years has the buying power of only $412,000 today. This is why investment returns a...
Read moreIt depends on your lifestyle and expenses. Using the 4% safe withdrawal rate, $1 million provides $40,000/year in retirement income. Combined with Social Security (average $1,900/month), you'd have...
Read moreThe mortgage calculator uses the standard amortization formula to calculate your monthly payment. It takes your loan amount (home price minus down payment), interest rate, and loan term to determin...
Read moreYour monthly mortgage payment typically includes four main components, often called PITI: Principal (the amount that reduces your loan balance), Interest (the cost of borrowing money), property Tax...
Read moreYour down payment has a significant impact on your monthly mortgage payment in several ways. First, a larger down payment means a smaller loan amount, which directly reduces your monthly principal ...
Read moreThe choice between a 15-year and 30-year mortgage depends on your financial situation and goals. A 15-year mortgage has higher monthly payments but you'll pay significantly less interest over the l...
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