this post was submitted on 04 Sep 2023
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Happy Labour Day to people who are not landlords. (lemmy.world)
submitted 1 year ago by BonesOfTheMoon@lemmy.world to c/memes@lemmy.ml
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[–] Hexadecimalkink@lemmy.ml 0 points 1 year ago (1 children)

Getsmarteraboutmoney.ca - go to their compound interest calculator. If you have 210k and put it into VEQT on questrade and set up a DRIP, in 35 years you'll have something like $3 million

[–] Rodeo@lemmy.ca 1 points 1 year ago (1 children)

Can you link to the actual calculator you're using for that? That page you linked is just their homepage. I've never seen a calculator that accounts for a DRIP.

[–] Hexadecimalkink@lemmy.ml -2 points 1 year ago

It's just a compound interest calculator https://www.getsmarteraboutmoney.ca/calculators/compound-interest-calculator/

Use this one to calculate the value with inflation (average historically is 3.25% over the last century) https://www.wealthmeta.com/calculator/compound-interest-calculator