Comments on: Building Wealth on $1.67 Per Day! http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: Stock Blog http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-441891 Stock Blog Sat, 30 Jan 2010 09:02:20 +0000 http://allthingsfinancialblog.com/?p=1313#comment-441891 well you are absolutely right on this thing that savings can really do miracles.But again the thing is that inflation and the other issues will make that amount really small when we will look after that period of time.Correct me if i am wrong. well you are absolutely right on this thing that savings can really do miracles.But again the thing is that inflation and the other issues will make that amount really small when we will look after that period of time.Correct me if i am wrong.

]]> By: Riaz http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-284616 Riaz Tue, 15 Apr 2008 20:27:13 +0000 http://allthingsfinancialblog.com/?p=1313#comment-284616 I was wondering if these numbers include reinvestment of dividends. I was wondering if these numbers include reinvestment of dividends.

]]> By: Me Myself And I http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-75640 Me Myself And I Tue, 13 Feb 2007 16:39:42 +0000 http://allthingsfinancialblog.com/?p=1313#comment-75640 I want to comment on what "Lazy Man and Money" said. "I’d like to restate what Personal Finance Blogger said. He even left taxes out of the equation, so it really could be worse than $375K. It’s convenient to leave these out though when you are trying to illustrate the power of compounding interest." Well, that's under one assumption. That the person didn't use a Roth IRA (or Roth 401k). Then taxes have already been taken out of the picture. As for inflation, I just checked a CAGR value for milk. 65¢/gal when I was a youngin, and now it's about $3.27/gal (around 40 years later). That's a compounded annual growth rate (CAGR) of 4.1%. I want to comment on what “Lazy Man and Money” said.

“I’d like to restate what Personal Finance Blogger said. He even left taxes out of the equation, so it really could be worse than $375K. It’s convenient to leave these out though when you are trying to illustrate the power of compounding interest.”

Well, that’s under one assumption. That the person didn’t use a Roth IRA (or Roth 401k). Then taxes have already been taken out of the picture.

As for inflation, I just checked a CAGR value for milk. 65¢/gal when I was a youngin, and now it’s about $3.27/gal (around 40 years later). That’s a compounded annual growth rate (CAGR) of 4.1%.

]]> By: Bryan C. Fleming » Building Wealth on a Dollar Per Day http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-46346 Bryan C. Fleming » Building Wealth on a Dollar Per Day Thu, 16 Nov 2006 21:21:41 +0000 http://allthingsfinancialblog.com/?p=1313#comment-46346 [...] JLP had a great article last week in his blog AllFinancialMatters.  In his post “Building Wealth on $1.67 per day” he lays out some pretty nice graphs for how much money you’ll have years from now. [...] [...] JLP had a great article last week in his blog AllFinancialMatters.  In his post “Building Wealth on $1.67 per day” he lays out some pretty nice graphs for how much money you’ll have years from now. [...]

]]> By: BD’s Favorite Personal Finance Posts This Week (11/5/06) » Personal Finance - Save Money - Retirement - Financial Freedom http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-40163 BD’s Favorite Personal Finance Posts This Week (11/5/06) » Personal Finance - Save Money - Retirement - Financial Freedom Sun, 05 Nov 2006 15:14:11 +0000 http://allthingsfinancialblog.com/?p=1313#comment-40163 [...] Building Wealth on $1.67 Per Day! @ All Financial Matters. JLP talks about how fast you build up wealth with $50 dollars a month. Complete with Excel grids. Weee! [...] [...] Building Wealth on $1.67 Per Day! @ All Financial Matters. JLP talks about how fast you build up wealth with $50 dollars a month. Complete with Excel grids. Weee! [...]

]]> By: Jenni http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-39850 Jenni Sun, 05 Nov 2006 02:47:45 +0000 http://allthingsfinancialblog.com/?p=1313#comment-39850 Thank you so much for the recommendations, and answering my question! Thank you so much for the recommendations, and answering my question!

]]> By: Lazy Man and Money http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-39266 Lazy Man and Money Fri, 03 Nov 2006 21:15:15 +0000 http://allthingsfinancialblog.com/?p=1313#comment-39266 I'd like to restate what Personal Finance Blogger said. He even left taxes out of the equation, so it really could be worse than $375K. It's convenient to leave these out though when you are trying to illustrate the power of compounding interest. I’d like to restate what Personal Finance Blogger said. He even left taxes out of the equation, so it really could be worse than $375K. It’s convenient to leave these out though when you are trying to illustrate the power of compounding interest.

]]> By: Generation X Finance » November 3rd Friday Five http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-39232 Generation X Finance » November 3rd Friday Five Fri, 03 Nov 2006 18:55:07 +0000 http://allthingsfinancialblog.com/?p=1313#comment-39232 [...] Building Wealth on $1.67 a Day - Great example how compound interest works wonders for young people. [...] [...] Building Wealth on $1.67 a Day – Great example how compound interest works wonders for young people. [...]

]]> By: Dus10 http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-39206 Dus10 Fri, 03 Nov 2006 16:58:29 +0000 http://allthingsfinancialblog.com/?p=1313#comment-39206 Not that this is the best place to sock away funds, but Sharebuilder.com has a nice Roth IRA setup. Just automatically deposit your funds, and you could even leave them alone and not make any purchases. This would give you about 4%, I think, until you get to a decent amount of money, and then you could move to a better place, like Vanguard, so you can avoid all the rules they would put on you. This would leave you with no fees. In addition, Sharebuilder probably has some offer where they will give you some free trades for opening an IRA, as they can't give you any promo money since that it is an IRA. Not that this is the best place to sock away funds, but Sharebuilder.com has a nice Roth IRA setup. Just automatically deposit your funds, and you could even leave them alone and not make any purchases. This would give you about 4%, I think, until you get to a decent amount of money, and then you could move to a better place, like Vanguard, so you can avoid all the rules they would put on you. This would leave you with no fees. In addition, Sharebuilder probably has some offer where they will give you some free trades for opening an IRA, as they can’t give you any promo money since that it is an IRA.

]]> By: RSN http://allfinancialmatters.com/2006/11/02/building-wealth-on-167-per-day/comment-page-1/#comment-39201 RSN Fri, 03 Nov 2006 16:41:15 +0000 http://allthingsfinancialblog.com/?p=1313#comment-39201 These are great, I'll be showing this to my 14 year old this weekend! These are great, I’ll be showing this to my 14 year old this weekend!

]]>