It would take me 400 yrs. if I lived way below means.
You aren't allowed to invest it. Just put it in a savings account.
2006-06-29 02:36:39 · 9 answers · asked by kristina 3 in Business & Finance ➔ Other - Business & Finance
it would take me 100 hundred years if i budgeted myself and didn't invest it just put it in cash unber my bed.
2006-06-30 05:25:46 · answer #1 · answered by chucky w 2 · 5⤊ 1⤋
I know it's just a survey question, but why would not invest it? If you got 8% returns on your investments (feasible with equity investments) and didn't get taxed on it because you're using a Roth IRA or something similar, then that 400 years would get reduced to about 40 years from compound interest. Use any retirement calculator and you can see the numbers yourself. At 10% returns, it would take 37 years.
Einstein had that famous quote about compound interest being the greatest wonder of the universe.
2006-06-29 11:04:13 · answer #2 · answered by Arbitrage 7 · 0⤊ 0⤋
2000 years
2006-06-29 09:40:02 · answer #3 · answered by tigger4tracy 2 · 0⤊ 0⤋
You can only save $208 a month? Geesh. Save more.
2006-06-29 09:39:35 · answer #4 · answered by Amanda 3 · 0⤊ 0⤋
if you save a million daallor you just put it in the bank and don't touch then it would be more then what it would be wreth now.
2006-06-29 09:50:27 · answer #5 · answered by triciachance 1 · 0⤊ 0⤋
just a little over 3 years.
2006-06-29 09:39:35 · answer #6 · answered by DigDug 3 · 0⤊ 0⤋
2 days :)
2006-06-29 09:39:38 · answer #7 · answered by Aleksandar D 1 · 0⤊ 0⤋
When I will find a job, I will let you know.
2006-06-29 09:40:40 · answer #8 · answered by nadira456 3 · 0⤊ 0⤋
Too bloody long!
2006-06-29 09:54:40 · answer #9 · answered by kenhallonthenet 5 · 0⤊ 0⤋