One of the arguments in favor of having sustained, moderate inflation is that it forces people to invest for precisely this reason.
Anyway, assuming a 3% inflation rate, the original $1K still turns into $30K after fifty years.
It's also worth pointing out that most people in the states qualify for Medicare Part A after they turn 65. Even if they don't, the average monthly health insurance premium for someone who is 70 is around $550.
So going off of your example, the original $1K purchases around four-five years of health insurance after inflation. This is a good deal.
Anyway, assuming a 3% inflation rate, the original $1K still turns into $30K after fifty years.
It's also worth pointing out that most people in the states qualify for Medicare Part A after they turn 65. Even if they don't, the average monthly health insurance premium for someone who is 70 is around $550.
So going off of your example, the original $1K purchases around four-five years of health insurance after inflation. This is a good deal.