For the first time ever, I am deleting a post.
The numbers in this morning’s post (now missing) were completely wrong as were, therefore, the conclusions I drew from them.
For the record, all of the numbers concerned what happens if you save $1000 a month. I often show these numbers to my students, and when I do, I get the assumption right. But this time, I somehow a) convinced myself that the assumption was $100 a month, not $1000 a month and b) therefore concluded that saving is a whole lot easier than what I tell my students every year, and c) said a lot of nonsense that followed from this.
(I tell my students that for *them*, saving $1000 a month will soon probably be a plausible strategy, which is likely to be true. Having conflated $1000 with $100, I drew implausible conclusions in the blog post about what you could do on $25,000 a year.)
I could say things about the folly of posting at 2AM, but I think the wiser course is simply to apologize.