Thread: Investing 102
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Old 12-13-2011, 10:33 AM
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GregWeld GregWeld is offline
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Tracy --

I think that is the biggest "mind set" that has to change for people to become better money managers.... The thought is -- I can't save "enough" or I don't have $500 to save. Yep - you're right - and you'll never have $500 if you don't start by saving $50! Save $50 a month and in less than a year you'll have $500!

I'm using really low numbers so people just need to slug in their own. A guy making $80 grand a year - should be able to save $500 a month. Dude! That's 6 grand a year! That 6 grand in 42 years is $336K!!

$336K at 6% dividend (what AT&T pays currently) is 20K per year in dividends -- and if you figure that is a return on the 6K you originally invested... I'd say that's a pretty damn good return! Save 6k ONCE @ 21 years old - and you get back 20K every year for the rest of your life when you hit 63 years old! Not bad!
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