 $13, 000 Deposited in your checking account, What would you do? |
| $13,000 was deposited in his checking account 1 week ago. He does not how it got there. What should he do? It has been a week.... |
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 What's a part time job that will give a salary of at about $1,000 a month? |
| Thanks! Preferably working at a store or something simple like that. Nothing that you need a high education. Just a job someone would take while they're in High School or College. Just curious! T... |
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 What can kids do to earn money? |
besides
•baby sit
•yard sell
•car wash
•lemonade stand
i wont something different i always get these answers and already do them i am 14 also so help me please and ... |
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 Is this man trying to a scam? |
| I put an ad on Yahoo Classifieds. I'm trying to sell my laptop for $500. He said he'd pay me $950. He says he's from the United Kingdom and he wants to buy it for his son who is in ... |
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 There is a list of the ten richest people in the world. Why is there no list for the ten poorest? |
Additional Details
And how do I make the list? Who do I contact. The wheel on my shopping cart just broke.... |
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 How to make money online? |
| How to make money online?... |
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 I am trying to get a personal loan with bad credit can anyone give me advise on what i should do? |
| I just recently ended a long term relationship and i am trying to take care of myself and my children for the first time on my own. I have a job but I need a personal loan to help me get on my feet. I... |
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 Each time you apply for a loan does it affect your credit scoring...? |
| does it make the score decrease for example if you get declined by a lender, pls advise..... |
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 How do you get rich? |
| tell me how to become ... |
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 How can I recoup money from a loan gone bad? |
| I'm in NJ, and my brother and a friend who worked together in a restaurant in the GA area decided to open a small take out place for themselves. My brother asked me for a loan of $10,000 to help ... |
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| How To Tell If You Are Poor? |
If you fall into this category you are poor. It is what is folks.
1.Have a cellphone but no house phone, means you are poor(No way to justify this, dropped signals and a hot cellphone ... |
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 Is 30,000 to 40,000 dollars a year good pay? |
I was offered a job for 30,000 to 40,000 a year substancial pay I have not worked in a few years
Additional Details
Well, more detail, I have year til a graduate from a very reputable ... |
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 Do you get tired of rich people saying "money isn't everything'? |
| I mean, come on. It's easy for them to say. Wealthy people saying "money isn't everything" is the biggest joke--especially since they don't have to go through the daily ... |
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| Which debt to tackle first? |
| Our family income has recently increased and we can now afford to allocate an additional $1000 monthly to paying off some debt and/ or saving. We have a maxed out credit card ($2000) that we ... |
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happydawg | Is it true if you put $1 a day into savings when a child is born, when it turns 18, it will be a millionaire? |
I heard this on the Oprah show about 3 years ago. A lady was on their and said that small amount of money would make a kid rich and she went on to say $1 dollar a day for a childs life would make the kid a rich adult. . My niece is about to have a baby, and I would like to invest some money for it, not a lot, just about a dollar a day. Where did Oprah's guest get that idea? Do you have to be smart about investing because God knows, I am no Allen Greenspan. |
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J
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This is very possible... in an extremely high-interest / yield scenario only. If you invest $1 daily at a rate of at least 49% per annum, you can yield a million dollars. Anything below 49% p.a. interest, you will fall short of your goal. |
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aqualung
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not true, but they will have a nice downpayment on a home. i did the math along time ago. |
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wise one
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No, its not true , but it is possible if you make a certain percentage rate per year , and your certainly not going to make that at the bank . if you invested in some mutual funds through Fidelity, Janus , Van Guard , Aim , these usually have minimum amounts like $ 2,000 dollars to start and then you can put in $30 a month if you want for your $ 1 dollar a day and the kid would have built a big chunk of change , but its very unlikely going to be a million in 18 years , also there is Share builder .com for little trades of stock that are not to expensive , you can read and learn about investing in Yahoo finance , and they have calculators that show you how much you would have to earn to make a million on your Dollar a Day , Best of Luck |
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jmg559
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Oprah was wrong, why.... 1. once that kid is born it gets harder and harder to safe some money. 2. Any one that knows anything about money know that the best thing to do is to get them a CD or a MUTUAL FUNDS account, ofcourse you need mone now to do that but even if you save a dollar a day and actually get to a million 18 years from know that wont help him much if his on his own. The way the stock market is going having a million then will be like having half of that know. |
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Common Sense
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I just used Quicken to calculate this. $365 @ 8% a year (Stock market returns) = $13,669 in 18 years. You could possibly do this through a standard S&P500 index fund. Make sure the annual expense is below .20. (no load). |
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IWIU
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I think so, as long as you get interest on the money. |
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sonyack
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Nowhere near, even counting leapyear days. Savings accounts give miserable rates. But it would be a nice gob of dough and could help defray college costs, for example. And you could maybe put the money into something a bank offers like Certificates of Deposit that pay more interest to get more, if you don't do an investment thing. |
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Nobody
 |
I think this is a bit unrealistic. If you compound the interest once a year, you'd need a 45.5% interest rate to get to a million at age 18.
Now at 10%, which is a little bit closer to reality, you could still come up with $183K.
Good luck. |
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ugottafriend4life
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It would have to be invested quite well to turn into a million bucks. |
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pamela_davis
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No, that's not true. It's $6570, even if you invest it wisely, there is very little possibility that it would ever even reach $10K, let alone a million. Now that we are on the brink of such turmoil, the stocks will drop and no guarantee when they will recover. |
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Toolooroo
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I think that would be a lovely gift whether it created millions or not. It's very thoughtful. |
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Tom H
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You could invest in a good mutual fund. You could also automatically have money deducted from your paycheck and invested without commission and automatically re-investing dividends and capital gains without commission.
Lets say that this means you are putting $91.25 of new money in each quarter, and that the fund gains 2.41% each quarter. Dividends are usually paid out quarterly and the 2.41% quarterly rate is exactly a 10% annual return rate.
The total amount after 72 quarters (or 18 years) is $17,245. This is far short of $1M.
However, if you and your child keep it up 'till your child is 65 years old, he/she will have $1.846M, so yes he/she will be a millionaire and then some. However, $1M won't be such a big deal in the year 2071.
Don't forget that the fund needs to do a 10% annual return, AFTER the management and brokerage fees. |
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coleridge49
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You will need to be 2740 at 365 a year to be a millionaire give or take a couple of leap years.
Better start saving |
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J Somethingorother
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365.00 x 18 = 6570.00. You'd need some hellacious interest rate to turn that into a million dollars. Savings accounts at banks sure won't get you there. |
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stretchyrubberband
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ummm.
no. do the math.
$1*365days*18yrs=6570 |
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loira74
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It's not quite that easy. If you do the math, 365 days/year X 18 years, only gives you about 7 grand, However if you invest it or do something else you can get more. The earlier you start saving the better because you will earn more interest on larger principal |
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