$3,400,000,000,000.00

[RoyalOrleans]

People don’t get the size of the numbers, so remove some zeros. We now have $3,400 and $17 dollars.

 

 

 

You want to save $3,400 at $17 a week. It will take 3 years and 9 months.

 

 

 

You are 20 years old and have a household income $3,400 per month and spend all of it every month. You want to save for retirement so start saving $17 per month. In 45 years you would have saved $9,180 + interest. Now that’s live’n large.

 

 

 

You have a household budged of $1,700 per month. You have a project where you want to spend $1,700 in one month

So, here are your choices:

 

-- redirect all your money for the month to the project and pay no rent, utilities, no car payment, and not buy food or gas.

 

-- or borrow $1,700 dollars and pay it back

 

-- Hire Bernie Madoff to start an investment fund for you

 

You decide on #2 and will pay $17 per month. With no interest it would take you 200 months, 16.6 years, to pay back the money. With 10% simple interest you would be paying $153 less than the interest being charged. In other words you’re going further into debt.

 

 

 

You have a household income of $1,700 per month and you want to double it to $3,400 per month. You borrow the money, every month, and promise the lender your family will pay $189 a month for the next 1,700 months (141.6 years), for each month you borrow the money. So after 1 year you have put your family in debt for the next 1,699 years.

 

 

 

Maybe Bernie Madoff should be Secretary of Treasury???

[Chopper]

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This is where the future lies ! Believe me - I don't lie !