Comments on Turn $1 a Day into $67,815TypePad2005-08-16T20:12:00ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2005/08/turn_1_a_day_in/comments/atom.xml/tanyetta commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d8341fd13153ef2007-04-23T17:06:45Z2007-04-23T17:06:51Ztanyettahttp://calimckoys.blogspot.comOk, I'm definitely LOST now. :(<p>Ok, I'm definitely LOST now.</p>
<p>:(</p>aron dailey commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d83527c4d869e22007-03-31T19:34:34Z2007-04-30T08:31:42Zaron daileyI dont have that time to wait i need to know the fastest and simpliest way to turn 1dollar into...<p>I dont have that time to wait i need to know the fastest and simpliest way to turn 1dollar into a million dollars in a year. thank you</p>Skott commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d8349ea07f69e22006-01-05T01:04:28Z2008-08-29T00:27:22ZSkottHere's a simple way of illustrating the wealth potential for saving just $1 a day: Every $1 a day you...<p>Here's a simple way of illustrating the wealth potential for saving just $1 a day:</p>
<p>Every $1 a day you save can be $100,000 when you retire.</p>
<p><br />
Explanation/Details: Investing just $365 annually, first day of the year, in a Roth IRA assuming 8% rate of return... in 40 years it's just over $100,000. Your actual contributions total just $14,600.</p>
<p>Add some simple math and $10 a day starting at age 25 makes for a $1,000,000+ balance at age 65. </p>
<p>I got this figure using the simplest Roth IRA calculator I could find on the web.</p>Mr. Economy commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d83455ebda53ef2005-08-19T13:39:35Z2008-08-28T06:20:47ZMr. EconomyI'd love to know where you can earn 10%. Even 8%. My local banks/credit unions pay 4.50% for a 5...<p>I'd love to know where you can earn 10%. Even 8%. My local banks/credit unions pay 4.50% for a 5 year CD.</p>
<p>If you saved $30 a month in the stock market, it would cost you $12 just to buy stock.</p>
<p>It sounds like one of those insurance guys selling annuties to me. </p>Michael Blackburn commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d8348b076d69e22005-08-17T13:57:24Z2008-08-27T11:30:32ZMichael BlackburnIf you know a place with a risk-adjusted 20% return, please do tell! Even sustaining 10% in an aggressive stock/bond...<p>If you know a place with a risk-adjusted 20% return, please do tell! Even sustaining 10% in an aggressive stock/bond retirement portfolio over the next 40 years is ... optomistic. My retirement plans are based on an 8% return over the life of the account. When you adjust that for inflation, you're talking about a 5% real return. </p>
<p>While "a dollar a day" is a good way to illustrate the power of compounding interest to newbies, you're better putting as much money away today as you can. If you're banking on the stock market continuing the pace of the last twenty years or the magical compounding fairy to make your retirement comfortable, you're asking to be gravely disappointed.</p>s g commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d8345be16d53ef2005-08-17T00:23:43Z2008-08-30T00:16:35Zs gif you saved all the change at 20% you would have over 125,000 at 40% 250,000<p>if you saved all the change at 20% you would have over 125,000 at 40% 250,000</p>s g commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d834558eae53ef2005-08-17T00:22:19Z2007-04-25T04:19:37Zs gif you saved all the change at 20% you would have over 125,000<p>if you saved all the change at 20% you would have over 125,000</p>Dan Meyer commented on 'Turn $1 a Day into $67,815'tag:typepad.com,2003:6a00d83451bcbd69e200d8349147ce69e22005-08-16T21:43:18Z2008-08-29T06:30:35ZDan Meyerhttp://www.tickmarks.blogspot.comWhen I worked for a CPA firm in Northeast Mississippi in the late 1970s, an otherwise racist (at least by...<p>When I worked for a CPA firm in Northeast Mississippi in the late 1970s, an otherwise racist (at least by 2005 standards) co-worker told me a<br />
similar story. Apparently, Booker T. Washington or one of the faculty at Tuskegee told black families in the early 20th century to save back a nickel out of each week's paycheck. Those that did apparently had less pain during the Great Depression than many of their white counterparts.</p>