 How much should I put in my 401k? |
I have a debate going with my boyfriend:
How much should I put in my 401k?
The minimum to get my employer to match my investment or the maximum allowed?
I'm 24 years old, I ... |
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 What are mutual funds? |
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 We are saving $1000-$1200 per month- how should we invest it? |
| My husband and I recently began putting away between $1000 -$1200 per month and we plan on continuing to do so for the next five years. What would be our best option at this point? Should we just ... |
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 Best way to invest? |
| I have saved and now have $1000.00 Can anyone tell me the best way to invest this money...... |
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 If you won the lottery, what would be the best way to invest this to live off the interest? |
| I've played around with this scenario (as I'm sure many other have): say you win the lottery. What would be the best, and most stable, way to invest this so that you could live off a ... |
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 Can anyone reccommend any websites that are useful for INVESTING??? |
Hi Friends,
I am new to the Business of investing. I would like to begin investing in equities (stocks and shares) as well as fixed incomes (bonds).
Can anyone reccommend any ... |
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 How many cents make one dollar? ? |
1 rupee = 100 piase
1 dollar=?... |
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 How do I tell my parents I found $100 when I really stole it? |
| How do I tell my parents I found $100 when I really stole it?I really want to keep the money!... |
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| We are selling a large house and will have £100,000 left to invest, what is the best way to invest this? |
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 I want to invest £1000 it can be in absolutely anything, I am not worried about risks of losing it, so what |
do you think will be the best thing to invest in? obviously i would want to see the money going up, so i don't want to put it in premium bonds or high interest accounts.
Thank ... |
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 Is a 858 square foot 1 bedroom condo big enough for one person? |
Additional Details
I mean...My God..its in Columbus Ohio USA...I check Real estate websites in New York City....and they're ones there that are only 400 square feet studios...I ... |
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 Will Sensex touch 13000 Mark in 2006 ? |
Indian economy being strong, do you think that 13000 Level is possible for BSE - sensex.
If Yes, than Where do you see Ranbaxy, Reliance Natural & Reliance Communication.
W... |
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 How would you use 10 million dollar in one day? |
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Jennette | Why do the rich get richer? |
This site talks about how rich people can get richer.
http://www.i-endeavors.com
That just seems wrong. Why is that?! |
 |
 
rmlowrie
|
Actually, it isn't wrong. Most of these "rich" people are business people who are providing much needed jobs to those people who wouldn't have employment otherwise. Also, the "getting richer" part is just the principle of compounding. Considered the "eighth wonder of the world" by Einstein, compounding takes your money, and over a course of a duration, such as a year, continues to grow your invested principal based upon how the compounding is assessed. Here is an example:
Assume you $1,000. Also assume you have an annual percentage rage of 5%, compounded monthly. Let's look at what that really is for you at the end of a year. 5% is divided up into twelve months, so each month is 0.416667% (not much, right?). However, to actually see what 5% compounded monthly over a year will REALLY be, take 1, add it to the 0.416667% (in decimal form that is 0.00416667) and you have 1.00416667. take that number and raise it to the 12th power (compounding is exponential, not arithmetic or even geometric in nature). Now you have 1.00416667^12, or 5.116%! I know, it's not much, especially if you're talking about $1,000. At the end of one year, you have $1,051.16, but remember now you keep compounding month after month, year after year.
Now, let's assume you are a "rich" person, with NOT $1,000 but $1,000,000. What does that look like with the same percentage rate? At the end of the year, your $1,000,000 would have made you $51,161.89. However, if you're at this level, you're not making 5% interest! No, you're probably making 30% up to 100% on your money, and even if it is just compounded annually, you will amass great fortunes, which, to shelter yourself, you will invest most of it into philanthropic endeavors, charities, and in creating jobs for others.
I hope this helps to paint a more realistic picture of how wealth building and its impact on jobs.
Best of success. |
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lovefromabove25
|
Rich people get richer becuase they worked hard and went to school or someone in their family did. |
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Afton
|
I didn't look at the site but I think the rich get richer because they are rich in the first place because they are smart and hard working and know how to build wealth. Makes sense to me! |
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jameslankford
 |
compounding interest.
It's simple math |
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YO!
 |
They invest and investments grow. Minimum wage doesn't. |
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richards150
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The poor make just enough money to get by, but it takes more money to invest or to start a business. By investing and starting businesses, you're increasing your income but keeping the same amount of expenses, in theory. So you have more money to save each month which can be saved for more investments and more businesses. |
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sandevyl
|
The same reason why Poor Gets Poorer.... |
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SusieQ
 |
Takes money to make money.... |
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SUE
|
They don't, always, but there's a saying "it takes money to make money." By that token, if you have lots of money, you can make lots of money.
It all takes wise investment, and that takes discipline, especially for those of us who are NOT making much more than minimum wage. |
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Bhau
 |
Expenditures have limits.
earning - expenditures = growth
rich get more earning while expenditures are in limits
so they get richer and richer.
In fact Rich are most misers |
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DemonHunter
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Becuase the majroity have a really good job that they are good at! Also, im sure the interest from the bank helps out! |
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SweetPain
|
compounding interest and greater returns on monies invested. While we common folks may invest $1000 and getting a 7% return make $70, a rich person is investing $100,000 and pocketing $7,000. INVEST EARLY and let your money work for you. Patience and discipline is the key, there are no quick answers. |
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Mojacko
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because rich people have big business allows to to create a high amount of salary |
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t_bertrand
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Have you considered that the rich get richer becuse they keep what they have?
An average joe gets paid on friday and is broke by tuesday.
Instead of buying that extra trinket that catches your eye at wal mart how about considering setting a couple dollars aside?
Why buy a house you can't really afford or a suv that gets terrible millage when you could have something more reasonable and not have to worry about the payments?
BECUSE YOUR CAUGHT UP IN LOOKING YOUR BEST (to impress other people)
How about doing the smart thing instead of the flashy thing. |
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Sam
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Because when you're a rich person, you then get everything handed to you, so you don't have to pay for anything anymore. |
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Dart Swinger
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Because they have a friend in George W. Bush, whose tax cuts most benefitted the rich. |
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