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Tell me what 1% over 65 years is, Einstein.

Posted on: April 29, 2012 at 23:16:00 CT

ArnoldBabar MU

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Well, it just about doubles the initial investment. $10k is a pretty nice nest egg from the initial $5k investment.

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MESSAGE THREAD

there is only one "private" ssi scheme - kbit MU - 4/29 20:18:48

at 5% is basiclly doubles every 10 years - tigerinhogtown STL - 4/30 00:04:25

At 5% it actually doubles every 14.2 years - SparkyStalcup MU - 4/30 08:10:18

Use the rule of 72. Take the interest rate, - GA Tiger MU - 4/30 06:49:47

Those are two pretty big assumptions. - Alferd Packer MU

- 4/29 20:49:29

To comment on only the math, it is basically correct. Which - GA Tiger MU - 4/29 20:36:12

fred mentioned compound interest as the key to the concept - kbit MU - 4/29 21:52:47

Compounding interest is the trick. - ArnoldBabar MU - 4/29 22:09:26

He said bond markets..... - SparkyStalcup MU - 4/30 08:13:46

over the course of 65 years? - SoCalTigr UM - 4/29 23:06:42

Tell me what 1% over 65 years is, Einstein. - ArnoldBabar MU - 4/29 23:16:00

Just doing it in my head, I say it'd be worth at least $9200 - GA Tiger MU - 4/30 06:52:56

tell me what it would've been over the last 65 years. - SoCalTigr UM - 4/29 23:21:04

LOL. - ArnoldBabar MU - 4/29 23:30:09

why? - SoCalTigr UM - 4/29 23:32:25

I posted something like that the other day. - SoCalTigr UM - 4/29 20:32:44

Because it makes no sense. Otherwise, you're smart. (nm) - ArnoldBabar MU - 4/29 20:56:09

why wouldn't it make sense? - SoCalTigr UM - 4/29 21:24:35

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