
11-05-2007, 12:58 PM
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Silver Supporter
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Join Date: Aug 15 2004
Posts: 861
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Quote:
Originally Posted by 12097
I know it was a long time ago that I studied compound interest rates,but there appears to be something odd with your numbers.
If you earned the money yourself, (no inheritance) a person who nets 3K per month ($36,000.00 per year before living expenses), who has probably worked full time for 10 or less years, who has a house( lets assume $250K) fully paid for and approximately $450,000.00 cash at their disposal has achieved a financial miracle.
At best, $36K net before living expenses would leave you with $20-25K per year to invest. Based on ten years of savings and an INCREDIBLE compounded rate of return on your investments (averaging 10% AFTER taxes) it is not mathematically possible to have both the physical and financial assets you described.
Perhaps you incorrectly listed your income level or asset base.
Sorry.
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HA! HA! Manny got busted...You guys are waaaay tooooo nice. Questions like this one usually come from young kids looking to say "anything"
Good job 12097
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