Go Back   TexasBowhunter.com Community Discussion Forums > Topics > Around the Campfire
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 10-25-2020, 09:25 PM   #1
STGS
Ten Point
 
STGS's Avatar
 
Join Date: Jan 2007
Location: Texas
Hunt In: Texas
Default The Power of Compound Interest

I am sure some of you saw the Financial Tip of the Day post concerning Roth IRAs for kids. Well, the driving force behind that one was compound interest.

Here is another example of that power. Scroll down after you think about it and see how close your guess is.....

If Christopher Columbus had invested $0.01 (1 cent) when he arrived in the Americas (1492), never added any more $$ and earned 8% annually, how much would he have today?





Answer is below......
















$4.4 Quadrillion Dollars. That is 4,000 Trillion dollars, all from 1 penny.

If you don’t believe me, put those numbers into any financial calculator or app. I promise I am correct.


80% of financial success stems from the simple act of saving and not spending. The small remainder comes from how and where you invest.

Good luck and I will post more if you like this type of info.

Last edited by STGS; 10-25-2020 at 09:36 PM.
STGS is online now   Reply With Quote Back To The Top
 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 09:37 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2021, vBulletin Solutions Inc.
Copyright 1999-2012, TexasBowhunter.com