est. 1981

maybe i’m not so far behind…

In Uncategorized on October 27, 2006 at 8:39 pm
they were discussing on the news this morning that people in their mid-twenties, who are usually bad about saving when compared to people in their thirties and forties, are even worse than people their age 20 years ago. (perhaps they’ve forgotten the old “greed is good” motto) in fact, on average, twentysomethings spend $1.22 for every dollar they earn. what are you talking about? recession? NO WAY!

however, there is sunshine on the horizon (or so the news said). at 25 years old, if you were to begin placing money on a monthly basis into a Roth IRA with an annual percentage yield of 10%, you could retire a millionaire for $150 per month. no, i’m not kidding.

granted, a million won’t really be a million in 35 years (damn you inflation!!!!), but wouldn’t it be cool to have a MILLION of a monetary unit? that must have been what it was like to live in Italy, dropping thousands a Lire like they’re nothing (so what if they were nothing?). makes me wanna go to Mexico and spend a lot of pesos.

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