I saw a tv show talking about how you can take your kid's ideas for inventions and call a number telling them. they give you some kind of percentage.What I am asking for is the number to call.please help.
2007-06-02 12:01:53 · 7 answers · asked by superperiwinkle 2 in Business & Finance ➔ Personal Finance
I saw a tv show talking about how you can take your kid's ideas for inventions and call a number telling them. they give you some kind of percentage.What I am asking for is the number to call.please help.I will give them the money.
2007-06-02 12:08:34 · update #1
oops
2007-06-02 12:08:57 · update #2
watch who is millionaire.
2007-06-03 02:21:54 · answer #1 · answered by John 4 · 0⤊ 0⤋
If it were legitimate, THEY would get a percentage of YOUR profits. If they are offering YOU a percentage, it is some type of scam. Do an Internet search for 'inventor help' and you will find some real sources. Just be sure to check them out, there are bound to be scams there too.
Edit:Thin Kaboudit is a little optimistic, but his idea is sound. Using the 12% historical average for the stock market, and $100 per month, I get the following numbers:
$23,003.87 after 10 years
$98,925.54 after 20 years
$349,496.41 after 30 years
$1,176,477.25 after 40 years
$3,905,833.97 after 50 years
$12,913,767.12 after 60 years
$23,468,565.05 after 65 years
These calculations took under 5 minutes using basic speadsheet software.
2007-06-02 21:24:49 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
It's a scam.
However, making your kid a millionaire is actually quite easy. Just open a brokerage account for them (you'd open it for them as a minor), and buy $10 worth of "Spiders" every week (SPY....it tracks the S&P 500)
If your kid is 10 now, and you start them off with $100 and add just $10 a week, they'd be worth more than $2M by the time they're 40. About SIX MILLION if they left it until they were 50ish.
2007-06-02 20:05:28 · answer #3 · answered by Anonymous · 2⤊ 0⤋
You won't make money this way. Trademarking, copyrighting, marketing and producing a product cost thousands of dollars, and these companies always end up asking you for thousands of dollars in return. The fact is, you will never get your money back.
If you really think your kid has a great idea, contact companies that are already in that line of business (if it's a game for example, contact Matel). If you can get them interested, they'll use THEIR money to develop the product and pay you a fee.
2007-06-02 19:08:49 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Don't rip your kid off.
2007-06-02 19:04:54 · answer #5 · answered by Anonymous · 1⤊ 0⤋
scam
2007-06-02 19:03:31 · answer #6 · answered by Anonymous · 2⤊ 0⤋
If you have to pay, it's a scam.
2007-06-02 19:26:34 · answer #7 · answered by Sharyn 5 · 1⤊ 0⤋