06-03-2003, 10:37 AM
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#30
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Guest
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Quote:
Originally posted by Davros:
I don't know how correct his maths are MagiK, but you would do well to re-read what the guy actually wrote. It looks to me that in your eagerness to slam him that you are slamming him on something that he didn't actually say.
And you sir have, in your eagerness to slam me..have actually made a false assumption [img]smile.gif[/img] Nice try, but no ceeegar sir. I was not "eager to slam" as a matter of fact lets see.....I didn't even look at this thread untill I had been at work for several hours...(Edit: I wouldn't call more than 12 hour time difference an over eager response)
Well either that, or you have a way of taking $53 "per year" (ah, plink, there is that penny [img]smile.gif[/img] ) and turning it into $100K in 30 years - if so, where do I get a piece of that action.
As for making assumptions...he never stated a time frame...since I am basing the whole thread on "The average family of 4" receiving roughly $100 a month in federal tax relief from both Bush tax cuts, it is entirely reasonable for me to assume a montly time frame.
Now since you seem unwilling to do the math, I will give you a link to a financial calculator and tell you that at $53 per month at 10% over 30 years (a typical full market mutual fund should perform nicely for this) will net you roughly $119,805.86....now go invest and have a nice life [img]smile.gif[/img]
Find a calculator here: http://www.bobbrinker.com/stcalc.asp
also note that if you want to invest just $5000 total for your kid/kids you can turn that $5000 into 2.4 million by the time they are 65 in a RIC-E Trust Fund.
Yeah I know, I sound like a Shill for Ric Edelman's favorite trust vehicle but hey, its a great idea and an easy way to ensure your children have a bit less anxiety about their futures than you may have about yours(or mine or who evers).
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[ 06-03-2003, 10:39 AM: Message edited by: MagiK ]
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