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« Insurance: Use It for the Big Losses in Life | Main | Reap the Benefits of Direct Deposit -- Without Direct Deposit »

July 17, 2007

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I think all of your bits of advice for the recent grad are great and sound, yet I don't think that most of us really heed our parents' wisdom and warnings. Suffering seems to be the best teacher and I can attest that as a slow learner, I finally get it, but geez, it's been a long education. I hope she defies the norm and proves me wrong.

Susan's right -- and of course, all the "exceptions" will now chime in -- but for many people, it doesn't help one bit what the parents say when it comes to personal finance. My parents always avoided debt and lived below their means to afford college for us, etc., but I went out and made ALL the bad mistakes, and am now paying for it. I wouldn't have listened to them...

What's with the brat expecting a new car when she graduates from college, though? That's truly obnoxious. With an attitude like that, this girl may never get it -- I'm seeing a little pampered, credit-card toting Paris Hilton-wannabe in the making...

Dang, you make work for me...

Now I've got to check out to figure out if #3 is true for all interest rates or just a range and think why it would or would not be true.

I think I set a spread sheet up correctly...

It isn't true at 2% or 3% but is true by 4%. It is very close to break-even at 4%, well, 3.8523%.

It's not even true if the second person started at 35 with 8% returns.

2000 2160 22
4160 4492.8 23
6492.8 7012.224 24
9012.224 9733.20192 25
11733.20192 12671.85807 26
12671.85807 13685.60672 27
13685.60672 14780.45526 28
14780.45526 15962.89168 29
15962.89168 17239.92301 30
17239.92301 18619.11685 31
18619.11685 20108.6462 32
20108.6462 21717.3379 33
21717.3379 23454.72493 34
23454.72493 25331.10292 35 2000 2160
25331.10292 27357.59116 36 4160 4492.8
27357.59116 29546.19845 37 6492.8 7012.224
29546.19845 31909.89433 38 9012.224 9733.20192
31909.89433 34462.68587 39 11733.20192 12671.85807
34462.68587 37219.70074 40 14671.85807 15845.60672
37219.70074 40197.2768 41 17845.60672 19273.25526
40197.2768 43413.05894 42 21273.25526 22975.11568
43413.05894 46886.10366 43 24975.11568 26973.12493
46886.10366 50636.99195 44 28973.12493 31290.97493
50636.99195 54687.95131 45 33290.97493 35954.25292
54687.95131 59062.98741 46 37954.25292 40990.59315
59062.98741 63788.02641 47 42990.59315 46429.84061
63788.02641 68891.06852 48 48429.84061 52304.22785
68891.06852 74402.354 49 54304.22785 58648.56608
74402.354 80354.54232 50 60648.56608 65500.45137
80354.54232 86782.90571 51 67500.45137 72900.48748
86782.90571 93725.53816 52 74900.48748 80892.52648
93725.53816 101223.5812 53 82892.52648 89523.9286
101223.5812 109321.4677 54 91523.9286 98845.84288
109321.4677 118067.1851 55 100845.8429 108913.5103
118067.1851 127512.5599 56 110913.5103 119786.5911
127512.5599 137713.5647 57 121786.5911 131529.5184
137713.5647 148730.6499 58 133529.5184 144211.8799
148730.6499 160629.1019 59 146211.8799 157908.8303
160629.1019 173479.4301 60 159908.8303 172701.5367
173479.4301 187357.7845 61 174701.5367 188677.6597
187357.7845 202346.4072 62 190677.6597 205931.8724
202346.4072 218534.1198 63 207931.8724 224566.4222
218534.1198 236016.8494 64 226566.4222 244691.736
236016.8494 254898.1973 65 246691.736 266427.0749

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