Comments on: Compound Interest, Manhattan & the Indians http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html Bridging the gap between saving money and investing Tue, 22 May 2012 17:08:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mickrussom http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-1001365 mickrussom Sun, 11 Mar 2012 07:51:07 +0000 http://www.pfadvice.com/?p=341#comment-1001365 "8% compounded annual interest" Only 1%-ers get this. Eight percent. HAHAHAHA. Pssbook, savings, checking, all under 1% now. CDs in the low 1% range. Its a JOKE. 8% is a dream. Real inflation is like 11% now, and all the non-gambling ways of saving money are less than 2%. So the indians would have to constantly gamble. And guess what? 1929, 1987 and 2008. From 8% to what, -50% This compounding is a crock. What if a dollar stayed a dollar. How about that? How about a penny saved is a penny earned? “8% compounded annual interest”

Only 1%-ers get this. Eight percent. HAHAHAHA. Pssbook, savings, checking, all under 1% now. CDs in the low 1% range. Its a JOKE. 8% is a dream.

Real inflation is like 11% now, and all the non-gambling ways of saving money are less than 2%.

So the indians would have to constantly gamble. And guess what? 1929, 1987 and 2008. From 8% to what, -50%

This compounding is a crock. What if a dollar stayed a dollar. How about that? How about a penny saved is a penny earned?

]]> By: Ryan Brigman http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-706799 Ryan Brigman Thu, 17 Jun 2010 14:47:01 +0000 http://www.pfadvice.com/?p=341#comment-706799 Great article. I plan to use it as an illustration in my upcoming sermon on the Lord' Prayer. Christians often pray for worthless trinkets instead of the coming of God's kingdom. No matter how much intrest there is it cannot compare with the wealth of God's kingdom. Thanks Great article. I plan to use it as an illustration in my upcoming sermon on the Lord’ Prayer. Christians often pray for worthless trinkets instead of the coming of God’s kingdom. No matter how much intrest there is it cannot compare with the wealth of God’s kingdom.
Thanks

]]> By: The Latte Effect: When Financial Changes May Be a Little Late - SavingAdvice.com Blog http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-376879 The Latte Effect: When Financial Changes May Be a Little Late - SavingAdvice.com Blog Tue, 29 Jul 2008 11:50:38 +0000 http://www.pfadvice.com/?p=341#comment-376879 [...] something that would chip, fade or be gone in a matter of minutes (I drink my lattes fast). And the power of compounding interest over the years is an incredible concept, especially when you start so young. Plus I don [...] something that would chip, fade or be gone in a matter of minutes (I drink my lattes fast). And the power of compounding interest over the years is an incredible concept, especially when you start so young. Plus I don

]]> By: Change the Way You Think about Money - SavingAdvice.com Blog http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-306730 Change the Way You Think about Money - SavingAdvice.com Blog Tue, 13 May 2008 08:27:34 +0000 http://www.pfadvice.com/?p=341#comment-306730 [...] rather spend than invest right now), focus on how much you will gain by investing even earlier. Compounding interest is an amazing thing and it’s even more amazing the more time you have. The earlier you start, the more likely you [...] [...] rather spend than invest right now), focus on how much you will gain by investing even earlier. Compounding interest is an amazing thing and it’s even more amazing the more time you have. The earlier you start, the more likely you [...]

]]> By: Brad http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-124418 Brad Mon, 08 Oct 2007 20:17:35 +0000 http://www.pfadvice.com/?p=341#comment-124418 I'm amazed that no one has cited a most obvious fact. The trinkets that bought Manhattan would be priceless today as artifacts! If the indians had saved them, they could have sold them now to museums and wealthy investors for whatever price they claimed, or just charged admission to their own museum. The value of the trinkets would not be subject to the whims of (or existence of )the stock market. I’m amazed that no one has cited a most obvious fact. The trinkets that bought Manhattan would be priceless today as artifacts! If the indians had saved them, they could have sold them now to museums and wealthy investors for whatever price they claimed, or just charged admission to their own museum. The value of the trinkets would not be subject to the whims of (or existence of )the stock market.

]]> By: chmersch http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-62299 chmersch Thu, 21 Jun 2007 18:54:36 +0000 http://www.pfadvice.com/?p=341#comment-62299 If you are using todays dollars to determine the value of the trinkets ($9 an ounce times the number ounces of silver gets you the $162) you would then have to discount that back to 1626. Or you could just keep it in at the current date and they Native Americans got $162 for Manhattan. If you are using todays dollars to determine the value of the trinkets ($9 an ounce times the number ounces of silver gets you the $162) you would then have to discount that back to 1626. Or you could just keep it in at the current date and they Native Americans got $162 for Manhattan.

]]> By: Fetch Blogs » Blog Archive » This Week’s Carnivals http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-16634 Fetch Blogs » Blog Archive » This Week’s Carnivals Tue, 06 Feb 2007 04:25:18 +0000 http://www.pfadvice.com/?p=341#comment-16634 [...] Be sure to check out Personal Financial Advice’s informative and entertaining post on compound interest. Savvy Saver serves up the Carnival of Personal Finance this week. He highlights some blogs that [...] [...] Be sure to check out Personal Financial Advice’s informative and entertaining post on compound interest. Savvy Saver serves up the Carnival of Personal Finance this week. He highlights some blogs that [...]

]]> By: Insurance » This Week’s Carnivals http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-15979 Insurance » This Week’s Carnivals Sun, 04 Feb 2007 12:30:21 +0000 http://www.pfadvice.com/?p=341#comment-15979 [...] Be sure to check out Personal Financial Advice’s informative and entertaining post on compound interest. Savvy Saver serves up the Carnival of Personal Finance this week. He highlights some blogs that [...] [...] Be sure to check out Personal Financial Advice’s informative and entertaining post on compound interest. Savvy Saver serves up the Carnival of Personal Finance this week. He highlights some blogs that [...]

]]> By: Witzige Geschichte über den Zinseszinseffekt • Börsennotizbuch http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-11507 Witzige Geschichte über den Zinseszinseffekt • Börsennotizbuch Fri, 22 Dec 2006 23:49:52 +0000 http://www.pfadvice.com/?p=341#comment-11507 [...] Die nordamerikanischen Idianer haben bekanntlich einmal um 1600 die Halbinsel Manhattan für ein Gegenwert von etwa $16 verkauft. Wenn Sie denken, dass sie ein schlechtes Geschäft gemacht haben, irren Sie. Oder zumindest liegen Sie damit nicht so richtig, wie Sie meinen. In dem Blog Personal Finance Advice können Sie nachlesen (auf Englisch), warum. Dahinter steckt die unglaubliche Wirkung des Zinseszinseffektes. [...] [...] Die nordamerikanischen Idianer haben bekanntlich einmal um 1600 die Halbinsel Manhattan für ein Gegenwert von etwa $16 verkauft. Wenn Sie denken, dass sie ein schlechtes Geschäft gemacht haben, irren Sie. Oder zumindest liegen Sie damit nicht so richtig, wie Sie meinen. In dem Blog Personal Finance Advice können Sie nachlesen (auf Englisch), warum. Dahinter steckt die unglaubliche Wirkung des Zinseszinseffektes. [...]

]]> By: nobody http://www.savingadvice.com/articles/2006/01/15/10341_compound-interest-manhattan-the-indians.html/comment-page-1/#comment-5757 nobody Sun, 24 Sep 2006 00:52:47 +0000 http://www.pfadvice.com/?p=341#comment-5757 Nice article, its amazing how the money adds up! Nice article, its amazing how the money adds up!

]]>