That’s $1,600,000,000.Or $16 million a year for the next hundred years .. even without interest or growth.
In other words, just the principal, if it earned no interest, could be divided into one million and 333 thousand dollars a month for the next hundred years.
So I don’t think Dad has to worry about cutting loose a little, or about not leaving every penny to Claire. And Mom’s trip is a drop in the bucket.
Nice if at least ONE of these airheads would mention the power you’d have to help people, and still be incredibly wealthy, if you had that much money.
And just for perspective…Bill Gates, after his charitable donations to his foundation, still has a personal fortune of over 85 billion dollars…
Putting money into a savings account to earn interest used to make sense, when interest rates paid a reasonable amount. Now-a-days, it only makes sense to use these accounts as places to store money until used for other purposes (up to the protected amount allowed by the FDIC). Many large banks (mostly in Europe and Asia) are starting to charge negative interest rates to hold the money, so account holders have to decide whether the risk of investing costs more than the cost of keeping the money in a bank.
kwanza_30303 about 8 years ago
Excellent point. Let’s hear it for Dad!
SusanSunshine Premium Member about 8 years ago
1.6 BILLION dollars…
That’s $1,600,000,000.Or $16 million a year for the next hundred years .. even without interest or growth.
In other words, just the principal, if it earned no interest, could be divided into one million and 333 thousand dollars a month for the next hundred years.
So I don’t think Dad has to worry about cutting loose a little, or about not leaving every penny to Claire. And Mom’s trip is a drop in the bucket.
Nice if at least ONE of these airheads would mention the power you’d have to help people, and still be incredibly wealthy, if you had that much money.
And just for perspective…Bill Gates, after his charitable donations to his foundation, still has a personal fortune of over 85 billion dollars…
50 times that paltry 1.6 billion.
nboady about 8 years ago
Putting money into a savings account to earn interest used to make sense, when interest rates paid a reasonable amount. Now-a-days, it only makes sense to use these accounts as places to store money until used for other purposes (up to the protected amount allowed by the FDIC). Many large banks (mostly in Europe and Asia) are starting to charge negative interest rates to hold the money, so account holders have to decide whether the risk of investing costs more than the cost of keeping the money in a bank.