Comments on: Rule 72 Tips for Kids http://www.thesecretmillionairesclub.org/rule-72-tips-for-kids/ Leap Frogging Your Way to the First Million! Fri, 25 Jun 2010 13:39:51 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Stephi http://www.thesecretmillionairesclub.org/rule-72-tips-for-kids/comment-page-1/#comment-825 Stephi Wed, 26 May 2010 00:50:06 +0000 http://www.thesecretmillionairesclub.org/?p=165#comment-825 <i>Rule 72 tips for kids can also be great teaching tools to impart wise spending habits. If your child has a penchant for spending their money on expensive videogames, or comics and candy, you can show them how much lost interest-earning opportunity they will be subject to, by not saving more. You don’t want to discourage their interests, or take away their fun, but rather show them how maintaining a strong balance between saving and spending can benefit them both now and in the future. You can also take the flip side of this coin, and teach your kids how much money they will have to spend to service debt, and how long it will take. Credit cards often charge much higher rats of interest, so it’s a double whammy to pay off debt and not enjoy the benefits of saving their money.</i> +1 Rule 72 tips for kids can also be great teaching tools to impart wise spending habits. If your child has a penchant for spending their money on expensive videogames, or comics and candy, you can show them how much lost interest-earning opportunity they will be subject to, by not saving more. You don’t want to discourage their interests, or take away their fun, but rather show them how maintaining a strong balance between saving and spending can benefit them both now and in the future. You can also take the flip side of this coin, and teach your kids how much money they will have to spend to service debt, and how long it will take. Credit cards often charge much higher rats of interest, so it’s a double whammy to pay off debt and not enjoy the benefits of saving their money.
+1

]]> By: Bob http://www.thesecretmillionairesclub.org/rule-72-tips-for-kids/comment-page-1/#comment-516 Bob Fri, 23 Apr 2010 12:26:55 +0000 http://www.thesecretmillionairesclub.org/?p=165#comment-516 What's really cool is Felix's Corollary and the Millionaires Estimation. Using the Rule of 72, to become a millionaire, you have to set aside $500,000 and wait for it to double. Who has $500,000? Using Felix's Corollary, you can set aside $1905 per year for 36 years at 12%, and you'll be a millionaire. A much more realistic plan for kids! See http://www.statemaster.com/encyclopedia/Rule-of-72#Felix.27s_Corollary_to_the_Rule_of_72 What’s really cool is Felix’s Corollary and the Millionaires Estimation. Using the Rule of 72, to become a millionaire, you have to set aside $500,000 and wait for it to double. Who has $500,000?

Using Felix’s Corollary, you can set aside $1905 per year for 36 years at 12%, and you’ll be a millionaire. A much more realistic plan for kids!

See http://www.statemaster.com/encyclopedia/Rule-of-72#Felix.27s_Corollary_to_the_Rule_of_72

]]> By: npedchenko http://www.thesecretmillionairesclub.org/rule-72-tips-for-kids/comment-page-1/#comment-26 npedchenko Fri, 25 Dec 2009 12:26:37 +0000 http://www.thesecretmillionairesclub.org/?p=165#comment-26 I want to quote your post in my blog. It can? And you et an account on Twitter? I want to quote your post in my blog. It can?
And you et an account on Twitter?

]]> By: Allen Taylor http://www.thesecretmillionairesclub.org/rule-72-tips-for-kids/comment-page-1/#comment-15 Allen Taylor Wed, 25 Nov 2009 17:31:51 +0000 http://www.thesecretmillionairesclub.org/?p=165#comment-15 Nice writing. You are on my RSS reader now so I can read more from you down the road. Allen Taylor Nice writing. You are on my RSS reader now so I can read more from you down the road.

Allen Taylor

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