Think about it: investing in the stock market at 6.9% a year, and reinvesting any dividends, means that, in a tax-free account, the real value of the investment will double every ten years. At that rate, a 20-year-old who in 1960 invested $4,000 a year in a tax-free account in the US stock market would have one million dollars by age 65 today.
更仔细观察就会发现，未来股票市场每年实质利润达到6.9%的想法令人怀疑。想想看，如果股票市场的投资回报率每年达到6.9%，加上再投资和分红，这意味着在一个免税账户中的投资每十年实际价值就翻一番。如果按照这个速度的话，一个于1960年在美国股票市场的免费账户中投资了4,000美元的20岁年轻人到今天65岁的时候就可以拥有一百万美元。我们难道应该期盼我们能在将来做到这样吗？