How to turn $200 into 200 billion without lifting a finger

[Ns1]

self ownage FTL

 

[Rebasxer]

Theres no way this was a serious thread. This level of stupidity is impossible. I thought this was going to be a thread about some pyramid scheme, but the OP just wants people to put there money into mutual funds?!?!?! Worst troll ever.

 

[jonks]

Originally posted by: eflat
People like Pop will tell you it is too risky and tell you about the stock market crash of 1929 and about "Black Thursday" or "Black Tuesday" and how the stock market lost 90% of it's value in one day because of a myriad of untimatley completely irrelevent factors that people spent their entire lives studying.

racist

Originally posted by: Capt Caveman
Wow.

OP, how old are you and your brother?

Well if he's 10 now, and ages one year for every year that passes, by his math next year he'll be 20. Billion.

 

[Rudee]

Originally posted by: tfinch2
Idiot.

What he said

 

[NatePo717]

$200 >>>> $200,000,000,000. That wasn't so hard.

 

[Rudee]

Originally posted by: jonks

Originally posted by: eflat
People like Pop will tell you it is too risky and tell you about the stock market crash of 1929 and about "Black Thursday" or "Black Tuesday" and how the stock market lost 90% of it's value in one day because of a myriad of untimatley completely irrelevent factors that people spent their entire lives studying.

racist

Originally posted by: Capt Caveman
Wow.

OP, how old are you and your brother?

Well if he's 10 now, and ages one year for every year that passes, by his math next year he'll be 20.

African American Thursday and African American Tuesday just didn't have the right ring to it I take it.

 

[dullard]

Originally posted by: Special K
When will the baby boomers actually start retiring? It seems like I've been hearing doom and gloom predictions about the baby boomers for the past 10 years, but nothing has really happened yet.

The definition of baby boomers started on Jan 1, 1946. The boom lasted a generation (so until the early 1960s). Baby boomers can start collecting social security and other retirement benefits at age 62 (if they elect for partial payments). That meant the first SS payment was Jan 2008. First person filed in Oct 2007. For full benefits, they have to wait until age 66 which starts in the year 2012.

Note: they can start withdrawing from your IRA accounts at age 59.5, which started in the middle of 2005. But, most people don't start withdrawing until they actually retire (starting Jan 2008).

The retirements won't come all at once. Many will work past age 62 and even age 66. Also, the last boomers won't reach age 62 until the mid 2020s. Thus, the baby boomers aren't an on/off switch. Instead, they boomers will gradually switch from funding a lot (2000s and 2010s) to withdrawing a lot (2030s). At which point in between where the amount they withdraw is equal to what they contribute is anyone's guess. But, the one constant that we know of, is that they will be contributing less and less while withdrawing more and more with each coming year.

Thus, there will be a drag on stocks starting Jan 2008 (very slight drag). This drag will keep increasing with every passing year.

 

[jonks]

Originally posted by: Rudee

Originally posted by: jonks

Originally posted by: eflat
People like Pop will tell you it is too risky and tell you about the stock market crash of 1929 and about "Black Thursday" or "Black Tuesday" and how the stock market lost 90% of it's value in one day because of a myriad of untimatley completely irrelevent factors that people spent their entire lives studying.

racist

Originally posted by: Capt Caveman
Wow.

OP, how old are you and your brother?

Well if he's 10 now, and ages one year for every year that passes, by his math next year he'll be 20.

African American Thursday and African American Tuesday just didn't have the right ring to it I take it.

I was thinking more along the lines of White Thursday and White Tuesday.

 

[Special K]

Originally posted by: dullard

Originally posted by: Special K
When will the baby boomers actually start retiring? It seems like I've been hearing doom and gloom predictions about the baby boomers for the past 10 years, but nothing has really happened yet.

The definition of baby boomers started on Jan 1, 1946. The boom lasted a generation (so until the early 1960s). Baby boomers can start collecting social security and other retirement benefits at age 62 (if they elect for partial payments). That meant the first SS payment was Jan 2008. First person filed in Oct 2007. For full benefits, they have to wait until age 66 which starts in the year 2012.

Note: they can start withdrawing from your IRA accounts at age 59.5, which started in the middle of 2005. But, most people don't start withdrawing until they actually retire (starting Jan 2008).

The retirements won't come all at once. Many will work past age 62 and even age 66. Also, the last boomers won't reach age 62 until the mid 2020s. Thus, the baby boomers aren't an on/off switch. Instead, they boomers will gradually switch from funding a lot (2000s and 2010s) to withdrawing a lot (2030s). At which point in between where the amount they withdraw is equal to what they contribute is anyone's guess. But, the one constant that we know of, is that they will be contributing less and less while withdrawing more and more with each coming year.

Thus, there will be a drag on stocks starting Jan 2008 (very slight drag). This drag will keep increasing with every passing year.

Did they really contribute that much to stocks though? I have also read articles saying that many of them have zero to very little savings for retirement.

 

[JTsyo]

Originally posted by: Chronoshock
In addition to what everyone has already mentioned, there are no easy (legal) ways to earn money. That's why it's valuable and there aren't many rich people. This reminds me of those threads "how can I make 1000 bucks easily without risk in a couple of weeks" that get posted periodically looking for instant sources of income. If it's too good to be true, it is.

That being said, compounded interest is a very powerful thing, and that's why it's extremely important to start saving money (for retirement/long term) early on in your career as it grows exponentially.

Originally posted by: eflat

Originally posted by: Mill
Find me an investment that grows at 10% a monthon a consistent basis... please.

Just a guess but how about this one?

http://warren-buffett-portfolio.com/

http://finance.google.com/finance?q=NYSE%3ABRK.A has grown 1348% since 1990.

It costs a $119K to buy 1 share of their stock? 0_0

 

[aphex]

If its any consolation, I just planted seeds for a money tree in my backyard. Hoping to have them ripe and ready for picking by this holiday season.

 

[LeadMagnet]

you could just put $200 in a savings account giving you 3% and wait 1000 years

it worked for Futurama's Fry

 

[Kenazo]

Originally posted by: JTsyo

It costs a $119K to buy 1 share of their stock? 0_0

I'm wondering what will happen to Berkshire once Buffet dies. How much of the stock value is based on him?

 

[Cattlegod]

would that be considered "bulk rate"?

 

[wahoyaho]

LOL@OP

 

[KillerCharlie]

If $200 could make you a billionaire, we'd be seeing a lot more billionaires...

 

[masterxfob]

wtf?

 

[Lurknomore]

This is the so-called "cold fusion" mutual fund, yes OP, I've heard of this.
Do not be dismayed by naysayers, you have not pwned urself and will be laughing at us in 20 yrs.

 

[rockyct]

Originally posted by: TecHNooB
I nominate this thread for self-ownage of the year! It's a worthy candidate anyhow.

Like everyone has said, it's yearly not monthly. Second, you're not guaranteed anything with a mutual fund but it is safer than investing in stocks. Third, depending on inflation, your buying power may not increase at all.

I'm not sure how deserving it really is of ownage of the year. I assumed the guy was 14 and just found out about mutual funds or something, but he registered in 2000 and referenced Al Gore's lock box. So, he's probably in mid to late 20's at least. I honestly don't see how a person that age could think that 10% interest compounded monthly means your investment goes up 10% a month. I'm calling shens on his post. His post is lengthy, but probably spent no time thinking out ideas (on purpose to make it seem more random) or editing.

Basically the evidence for ownage rests on eflat's true belief in a 10% monthly return and I don't think we can fully determine that.

 

[RichardE]

Originally posted by: mjuszczak

Originally posted by: jbWHO
10% monthly return? :Q

Originally posted by: mryellow2
yeah...that interest rate is per year, not monthly.

what he said...

^ What they said

 

[ViperVin2]

Surprisingly, I think the OP wasn't joking with this one. My co-worker, an Electrical Engineer, thought along the same lines with his 6% money-market fund. He wouldn't believe me that the 6% rate was yearly. Took him a month to realize he didn't make 6% instantly.

 

[IEC]

Remember, if you ever hit $0.00, 1943285388% of $0.00 is still $0.00.

Oh the humanity!

 

[Leros]

Originally posted by: Spartan Niner
Remember, if you ever hit $0.00, 1943285388% of $0.00 is still $0.00.

Oh the humanity!

But if ever gets $0.01, he made infinity %

 

[Mo0o]

Self ownage of the year nominee?

 

[eflat]

see edit