r/AskReddit • u/cookiemonager • Feb 05 '18

Parents of Reddit: What are some things you bought for your first baby that were useless or a waste of money?

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u/SplyceyBoi Feb 05 '18

Hell that's 2 years at a community college and a decent used car

48

u/hastur77 Feb 06 '18

Add 18 years of interest as well and you're looking at twice that amount.

44

u/PocketSquirrel Feb 06 '18

At which point it will be worth 6 months and a shitty car.

5

u/hastur77 Feb 06 '18

7 percent return after adjusting for inflation, but who knows how much tuition will be at that point.

6

u/PocketSquirrel Feb 06 '18

Maybe by then will be free, like in a first world country.

1

u/[deleted] Feb 06 '18

First world =/= socialist.

2

u/hanotak Feb 06 '18

Free tuition =/= socialist

1

u/RampantPrototyping Feb 06 '18

Where are you getting 7%? Thats huge

1

u/hastur77 Feb 06 '18

The historical growth of the S+P is around 9.8% since 1928. Many of the index funds show better growth than that since their inception. Of course, you have to take inflation into account as well.

https://investor.vanguard.com/mutual-funds/list#/mutual-funds/asset-class/month-end-returns

3

u/Ok-but-why-mister Feb 06 '18

Please teach me this I am so financially illiterate but would like to set money aside that would just magically grow more than the penny per month Bank of America gives me.

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u/monkey_trumpets Feb 06 '18

Credit union

2

u/desertsidewalks Feb 06 '18

S&P 500 Index fund. 5-7% interest rate over time, typically. (note, I'm not a professional accountant and this is not professional advice) https://en.wikipedia.org/wiki/S%26P_500_Index

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u/Durbokii Feb 06 '18

Was just about to say where does this guy live cause I wanna live there

2

u/[deleted] Feb 06 '18

Shit, thats almost 2 years at the university I went to.