133 The three musketeers of wealth accumulation: Time, rate of return, and the amount invested

The three musketeers of wealth accumulation: Time, rate of return, and the amount invested	累积财富的三剑客：时间、回报率、投入资本
There are three variables that impact wealth accumulation: time, rate of return, and the amount invested. Of the three, two are within our control—time and amount invested. At least we can control when to start, and with how much. However, we like to focus our attention on the uncontrollable—rate of return. Investors like to look for the target of investment that can give superb rate of return. However, a rate of return higher than inflation rate is good enough for most of us.	共有三个变数会影响财富累积，它们是时间、回报率和投入资本。这三个当中，时间和投入资本是我们可以控制的。或至少我们可以决定何时开始、数目多少。可是，我们总是喜欢注重那不受控制的回报率。投资者总是喜欢寻找那可以给予超高的回报率。其实，对于一般投资者，一个比通胀率稍高的回报率已经足够了。
To illustrate the case, let's do some simulation. We will use financial calculator found in http://www.calculator.net to do some calculation.	让我们做点模拟看看。我们会用http://www.calculator.net里的理财计算机。
Safe to say almost everybody has roughly 25 years to save for retirement. So, let's say we can save RM500 per month for the next 25 years, at a rate of return of 8%. We can see that, the future amount is RM454K.	可以说一般的人都大约有25年的投资期限。让我们试算在25年里每月投资RM500于给予8%回报率的投资。我们可看到未来数是RM45.4万。
Now, what if another investor think 8% is not attractive enough and delay his investment. He may leave the RM500 per month in his savings account (and hoperfully he doesn't spend the money). How much would he get after 25 years? He would have RM154K 25 years later. How sad.	但如果投资者认为8%太低了，于是拖延不投资。他可能会把每月的RM500存入普通储蓄户头（还要希望他不花掉）。25年后，他会有多少钱呢？他共会有RM15.4万。好可惜。
Next we look at whether 8% rate of return is within reach. We will get the data from Morningstar (http://my.morningstar.com). Out the universe, I will use data from "Malaysia - Large Cap". Why? Large Cap is suppose to see less volatility, and particularly many investors are so fed up with large cap stocks because of their non-performance over the last 3–4 years. We can see that there are funds that can do 8% returns.	接着让我们看看8%回报率是合理的吗？我们从Morningstar （http://my.morningstar.com） 查找资料。我会用Malaysia - Large Cap这个类别。为什么呢？大资本股的波动一般比较不大，在加上近3-4年大资本股没什么表现，让许多投资者伤心呐。我们可以看到是有些基金能够给予8%回报率的。
OK, the questions will be whether RM500 per month is affordable. Of course, it may sound too high for those newly in job. So, he may start with a smaller amount. However, as he get more senior, he should get more increment. He should commit to a bigger amount. The important thing is he should not refrain simply because amount is small. Investing is a habit, and it's a marathon.	那，接着的问题就是每月RM500负担得来吗？当然对初入职场的新鲜人来说，这数目可能会稍高。所以，他可以以较低的数目开始。随着他的职龄增加，薪水也跟着水涨船高。到时，他就能负担更大的数目。重要的是别因数目小而不投资。投资也是一种习惯，而且更是马拉松长跑。