The Power of Compound Interest

[stopper4]

http://www.cnn.com/2005/EDUCATION/06/20/unexpected.donation.ap/index.html


I'm a little dissapointed they didn't go into detail on his investment choices. That would have been a hell of lot more interesting than all those 'he was so frugal' ancedotes.

[VFish]

http://www.cnn.com/2005/EDUCATION/06/20/unexpected.donation.ap/index.html


I'm a little dissapointed they didn't go into detail on his investment choices. That would have been a hell of lot more interesting than all those 'he was so frugal' ancedotes.Not really, this story has been repeat many times over. The secret? Dollar cost averaging.

[fireman451]

Not really, this story has been repeat many times over. The secret? Dollar cost averaging.


Yep. Start early and be consistant. Discipline is a requisite behavior, auto deposits will also help move your money without much thought. The toughest part is getting started.

Cost averaging comes naturally if you follow the above (I'm talking about mutual funds/IRA's/bonds primarily).

[peledre]

That would have been a hell of lot more interesting than all those 'he was so frugal' ancedotes.
I interpreted those as "He was such a cheap bastard" anecdotes.

[SgtSchultz]

What he did needs to be taught to so many Americans.

[Pathogen]

I interpreted those as "He was such a cheap bastard" anecdotes.
I believe this was my advice months ago. Want to save money?; become a cheap bastard. It's amazing how far little money goes.

[Sachin]

He was a cheap bastard when he was alive, a frugal man when he's dead.

Sachin

[Footer Phooter]

I believe this was my advice months ago. Want to save money?; become a cheap bastard. It's amazing how far little money goes.


That's true, but there has to balance somewhere. This guy may have been a little over the line.

[Pathogen]

Absolutely agree. That guy was extreme. He's like a twelfth level grandmaster cheap ass. How the hell are you gonna buy expired meat? But atleast his stinginess went to a very good cause.