Posted on 12/26/2007 11:48:41 PM PST by BGHater
Except those of us who need every dime they can scrape together to make it to pay day.
If he had invested that in something that gave a 4% return (like a US savings bond) he would have ended up with nearly $35,000
Yup. Sounds very "smart", but it was not that smart. Even earning a measly 4-5% on your cash starts to add up pretty quickly.
My High School math teacher told us that he did this when I was in school back in the 1970s. He said instead of making a car payment every month, he had a bank acount that he made his "car payment" into every month. After about every 5 years, he got himself a new car, with cash.
Ahhh, the magic of compound interest...
The problem with most Americans is they can't save $10 a month, let alone $170. Any saving they get starts to burn a hole in their pocket....
at least he bought an American vehicle...but a Dodge, ugh.
Exactly - and no doubt most of it in Sacajawea dollars, to boot. I would laud anyone with such a fine savings ethic, but this just defies credibility. This has "Ford dealer PR stunt" written all over it.
hehe...this is how I got my latest tattoo! Of course, it was significantly less than the $26k this guy came up with. I plan on doing the same thing to help finance the purchase of my next rifle - like many have said here, it adds up really quickly.
Why. one must ask, would the Ford dealer, sponsor a stunt in which Mr. Brant purchases a Dodge truck?
I recently took a half gallon purple Crown Royal bag full of change to the bank.
I was happily SHOCKED to realize $612...(chuckle)
can almost promise you that if he was pulled over and cops found all the money in his truck, he would never see it again.
Nope the cops would leave it alone that much change would be work to carry around and so they would not bother it
It will add up I throw all my change in jars and once a year roll it up and take to the bank its how I save up for my trip to the state fair. It is not hard to have $600-700 a year.
Haven't you ever heard of dime bags?
Zeugma ducks and runs for cover...
“at least he bought an American vehicle...but a Dodge, ugh.”
Your kidding right? All Dodge Rams are made in Mexico. Hondas are more American than GM, Ford and Chrysler. Almost all the big three make their vehicles in Canada or Mexico and then ship them to the US for sell. At least when you buy an Accord or Civic you are supporting an Ohio family.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.