Monday, November 2, 2009

The $10,000 Question

If you had an addtional ten grand in your account, in what way would you give yourself more freedom?

Pay Off Bills?
New Toys?
Quit Job to find a better situation? ( buy time )
Invest in something?
Vacation?
Start another business of some sort?
Save untill you have 30k? ( you can swing a little more with 30k )

What priciples would you start living. The ones that you always wanted to, but aren't cost effective.

Ten Grand can't buy that much, but enough to ease the pinch a little.
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4 comments:

  1. Rock Family BlogNovember 2, 2009 at 9:21 AM

    I'd save till I had 30k, I can't do anything with 10k. Amanda and I would probably go to Italy and Greece (she gave up that direction to be with me) (see life story pg.506, lol)

    Justin

    http://cgi.ebay.com/INTEL-CORE-i7-975-5GHZ-EXTREME-GAMING-COMPUTER-GTX-295_W0QQitemZ120485859543QQcmdZViewItemQQptZDesktop_PCs?hash=item1c0d8450d7

    Or buy this!

    ReplyDelete
  2. Thayne and JennyNovember 2, 2009 at 1:10 PM

    I think we would prbably pay off bills (yeah, I know boring:), or save until we had 30k so we could play more and not think twice about buying "toys" or go more places and relax :). Then once we were ahead, we would continue to work hard to stay out of debt so we could repeat the play more part, lol! If having more money meant more quality time spent doing things that uplift and inspire and make me happy (which there are alot of things that do that for me), then that would be ideal.

    ~Jenny

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  3. Rock Family BlogNovember 2, 2009 at 1:50 PM

    Very Cool Jen.

    Justin

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  4. TheRocksNovember 3, 2009 at 6:48 PM

    HOW TO TURN $10K INTO "LOTS OF K"

    It's very simple:
    If we had $10K, we would follow the rule of 72 which states that if you divide your rate of return into 72, it will tell you how many years it will take to double your money. So...with our initial investment of $10K and a rate of return of 12% (average mutual fund rate) our money would double every 6 years (72/12=6) Here's what our initial investment would turn into at retirement age with a 12% return:
    AGE 24: 10,000
    30: 20,000
    36: 40,000
    42: 80,000
    48: 160,000
    54: 320,000
    60: 640,000
    66: 1,280,000!!!!

    And that's with just the initial investment, and not adding anything to it.

    So the real question is:
    HOW MANY DOUBLING PERIODS DO YOU HAVE LEFT IN YOUR LIFE??

    -Jeff and Carly

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