How To Spend A Million Dollars On Gas
MoneyNing has calculated that paying $200/month on gasoline over a 45 year period totals over a million dollars.
Thats pretty depressing. But by the same train of thought, the $400 car payment you spend to drive a new car every 4 years will work out to be another $2 million over your lifetime. Add in another $200 for insurance and maintenance and thats another million, bringing your grand total to $4 million dollars just to get from one place to another!
I’m buying a bicycle tomorrow!
If you found this post helpful, consider donating to my coffee fund!![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
-
How Traders Make 28% Returns In A Day Friday's stock market had a distinct sense of deja vu about it. Even though it was down overal, I was reminded of the crazy dotcom days in late 1999 when any tech stock could rally 25-50% in a single day!One of my friend's subscribes to a stock newsletter. Periodically he...... - Personal Finance Haiku Contest Make Your Nut is currently hosting a contest on Personal Finance Haikus. The winner gets $20 and some link love. Anyway here are my entries:Refinance your homeUse it to pay off your debtBrokers must eat too. Open a brokerage account Invest your earnings Wall street needs your money. The US......
-
Too Rich To Save? According to a study by HSBC, 49% of respondents with at least $250,000 in income aren't saving more because they simply "want some spending money." In 28% of the cases for those who earn between $100,000 and $250,000, respondents say they do not save more because "something unforeseen always comes......
Related Websites
- Our Personal Finance Friends and Foes Personal finance is about choices. In our experience and from observations, I've seen some choices as helpful and other choices as not so helpful. I've characterized these choices as either "friend" or "foe" for us:.Personal Finance ChoicesActivityFriendFoeSavingEarly and oftenLater and infrequent, or noneDebtFunding large long term purchases such as a......
- Golf Tournament Recap: US Tour Championship Phil Mickelson takes US Tour Championship Win, Tiger Woods Walks Away With $10 Million Dollars. Phil Mickelson managed to ge the best of Tiger Woods during the US Tour Championship, but he still saw the World no. 1 player take the larger pay check, to the tune of a $10......
- Weekly Thoughts: Happy Grundsow Day Happy Grundsow Day, everyone! For those of you who aren't Pennsylvania Dutch, that's Happy Groundhog Day! Apparently Punxsutawney Phil saw his shadow today, which in theory means six more weeks of winter. Since it's been snowing today, I'm willing to give the little fellow the benefit of the doubt; it......
[All content is copyright of Living Off Dividends & Passive Income]
June 12th, 2007 at 4:30 am
uhh, $200/month for 45 years is $108,000 in today’s dollars.. i haven’t bothered to look at the article, but can only imagine that they used some crazy inflation rate and that the $1,000,000 is in fuure dollars.. which doesn’t mean a whole lot, but makes for a great headline!
June 12th, 2007 at 9:07 am
True, but you didn’t read the article did you?
If you invest the money at 8% you’re left with approx 1 million 60 thousand.
I cross checked it over at http://wealthbuildinglessons.com – go to calculators and click on compound interest.
start with 0, put 2400/year over 45 years at 8% and see what you get.
June 13th, 2007 at 2:06 am
They’ve taken the age old idea of compounding interest and used the word ‘gas prices’ to get people’s attention, which I think is lame because it brings no new ideas to the table. Gas for most of us is the cost of earning our incomes, so it’s absurd to make anyone feel guilty of driving a car. It’s like saying, why don’t we all go homeless and take those ’savings’ and invest them to become multimillionaires in 45 years?
June 22nd, 2007 at 2:25 pm
Ah, Adventures Boy, thank you so much for being our little ray of sunshine! I’m off to drive my Hummer to the corner 7-11 for a Frappuccino to drown my sorrows….