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Reader Comments for
Subscribe to this threadMan buys new truck with only pocket change
(Page 1 of 1)
sd @ Dec 23rd 2007 5:39PM
This makes no sense.. since he was holding coins in his home he was earning zero interest on the loose change. And in fact, it wasn't loose change at all. To make a saving of just over 26K in 13 years requires a DAILY contribution of over 5 dollars. I can't think of a time where I've wound up with 5 dollars or more of loose change in a single day. Clearly, this guy was turning some of his dollar bills into coins so he could make a statement with it. He could have invested as little as $17K over the 13 year period and with even some conservative compound interest rates, he's have over 28 grand for that money..
MemphisNET @ Dec 23rd 2007 5:43PM
That required far too much thinking.
John @ Dec 23rd 2007 6:02PM
I was thinking exactly the same thing.
rndmnme @ Dec 23rd 2007 6:50PM
Uhh, no it doesn't.
It's fairly simple. If Mr. Brant would have done the "smart" thing and invested the money, or simply deposited it into a bank account he would have more money because of interest.
- @ Dec 24th 2007 1:05AM
A truly frugal person wouldn't buy new cars.