| This is what he said:"...$1 trillion, over the next 10 years, grows to be $3 trillion". If you suppose an initial investment of $1 trillion at an historic 10%, after 10 (actually ten and a half) years, you would get $3 trillion. Now, you are right, saying "over the NEXT ten years" is a mistake, as it takes time to accumulate the initial $1 trillion. However, as an illustration of what compound interest will do to $1 trillion, it is sound, and assuming we are talking about the average worker, who will retire in 20 years or more, it is a ballpark estimate of what will happen to the money the Boomers contribute, which is the point at issue......... |
