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positive_bias t1_j3rp7ml wrote

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

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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