The investment theory is a good one…. but with interest hovering around 1% for CD’s…50 cents would still only be $1.11 in 80 years!Passbook savings is paying a TENTH of a percent…. you’ll never make it to a dollar.(Don’t know exactly cos the online calculators won’t accept less than 1%.)
A really good investment at 6% would yield a bit over $60… still not enough for one night in a retirement home by 2096…and a pack of gum might cost $60 by then.then you have to figure Agnes’ idea of a good investment…we’ve seen her schemes…
Just buy the gum, if you can still find any for 50¢.In 40 years, at least you’ll have a story to tell your grandchildren about when gum cost less than a dollar.
I’m younger than 40 but we did have a store that sold “penny candy” called "Candy Land.’ It made you feel rich when in reality you only had a dollar. :-)
I’ve noticed the same thing applies to dieting. I can spend years on denying myself food that tastes good, working out at a gym, and eating healthy foods, juices, smoothies, whatever, or I can have that piece of cheesecake. When put that way the cheesecake wins every time.
I remember roughly if you take the compound interest rate and divide it into 70 (or 72, I forget), it will tell you how many years before your investment doubles.Zero, infinity, of course.1 percent, 70 years or so10 percent, 7 years or soNote this also applies to national debt even if we stopped adding to it (which we won’t, until the whole thing collapses).
SusanSunshine Premium Member over 8 years ago
The investment theory is a good one…. but with interest hovering around 1% for CD’s…50 cents would still only be $1.11 in 80 years!Passbook savings is paying a TENTH of a percent…. you’ll never make it to a dollar.(Don’t know exactly cos the online calculators won’t accept less than 1%.)
A really good investment at 6% would yield a bit over $60… still not enough for one night in a retirement home by 2096…and a pack of gum might cost $60 by then.then you have to figure Agnes’ idea of a good investment…we’ve seen her schemes…
Just buy the gum, if you can still find any for 50¢.In 40 years, at least you’ll have a story to tell your grandchildren about when gum cost less than a dollar.
QuietStorm27 over 8 years ago
I’m younger than 40 but we did have a store that sold “penny candy” called "Candy Land.’ It made you feel rich when in reality you only had a dollar. :-)
Dani Rice over 8 years ago
Oh, heck! I can remember when I could put $1 worth of gas in my car and actually go more than two blocks.
Jeff0811 over 8 years ago
I’ve noticed the same thing applies to dieting. I can spend years on denying myself food that tastes good, working out at a gym, and eating healthy foods, juices, smoothies, whatever, or I can have that piece of cheesecake. When put that way the cheesecake wins every time.
David Huie Green LoveJoyAndPeace over 8 years ago
Agnes, You have been weighed on the scales and found wanting.
David Huie Green LoveJoyAndPeace over 8 years ago
I remember roughly if you take the compound interest rate and divide it into 70 (or 72, I forget), it will tell you how many years before your investment doubles.Zero, infinity, of course.1 percent, 70 years or so10 percent, 7 years or soNote this also applies to national debt even if we stopped adding to it (which we won’t, until the whole thing collapses).