| Quote: | | | Originally Posted by wattovader | | | | |
| How does one get rich just by saving in the bank? :biggrin4: | |
| | |
Lets say
A = invest 5000 dollars yearly @ 5% interest rate of return.
B = Save 5000 dollars yearly in the bank
C = Save 4000 dollars yearly in the bank
D = Spend every single cent
After 10 years.
A will have 65.6k
B will have 50.8k
C will have 40.6k
D will have no money
From this simple illustration, A who invest regularly will have more money then B who saves regularly. Its possible for someone who save in the bank to save up to a Mil or more when they save A LARGE AMOUNT regularly.
But if he invest it, he'll get rich even faster :biggrin4:
