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The Snake
11 Nov 09 11:18
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Date Joined: 11 Apr 05
| Topic/replies: 674 | Blogger: The Snake's blog
Check this out, some good reading.
As long as youre not too old, start doing this and you'll retire very wealthy

http://www.squidoo.com/compoundinterest
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Report The Snake November 11, 2009 11:45 AM GMT
That link is interesting... what would you rather?

a) £1000 a day for a month

OR

b) 1 penny, that would be doubled everyday for the month. ie. on day one 1p, day 2, 2p - day 3, 4p........ and so on...

I know most on here would choose option A.
Report Jimbo747 November 11, 2009 11:56 AM GMT
Saving works fine if you have no debt, stupid having a savings account earning 5% if you pay anything over 5% on overdraft / loan / credit cards etc.
Report Joe Jordan November 11, 2009 12:21 PM GMT
can you just direct me to the "100% Interest a day" company please ...cheers ..
Report buzzer November 11, 2009 12:27 PM GMT
'savings rates are so high i had enough to retire on after 6 months!'
Report Tevez is God November 11, 2009 5:11 PM GMT
I know most on here would choose option A.

I doubt that, most on here will know the one about the grains of rice on the chessboard imo
Report Mc Moonbeam November 11, 2009 5:22 PM GMT
I've read that book .. the guy's a bit of a dreamer/hypocrite really as the rich dad he talks of works his b0ll0x off 24 /7 in his office ;)
Report DaveEdwards November 11, 2009 5:58 PM GMT
Correct Tevez
Report Jim Hensen November 11, 2009 6:04 PM GMT
I haven't looked, but it is a cert that the guy fails to mention the effect of inflation.

The truth is savings are important, and they have a place. Hoping to get rich from it is a fallacy. Ideally you want to have enough savings to cover your lifestyle for a year, and the rest should be used aggressively to get rich, (if that is your aim).
Report punterfleecer November 11, 2009 8:22 PM GMT
b)

surely every-one here knows that Martingale system?
Report AV8 November 11, 2009 8:35 PM GMT
http://www.ruleof72.net/rule-of-72.asp
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