Poor guy. He's 23 too. :-\ What would you say to someone if he asked you that? I really can't think of a way to explain rationally.
why stop at $100 per month? If it were me I'd save $1 Billion a month that way my rate of return is higher and I get rich faster. I might also start with less than $5K so my rate of return on that is even higher.
woo hoo! a new 419, "The Australian Scam". those nigerians got nuthin on us. exporting cocoa though...?
This is how I would explain it rationally. Reading stuff like this always pisses me off, because I always feel compelled to correct the incorrectness. If I knew where the author lived, I'd probably drive over to his house and explain it personally, just so that I could be absolutely sure that this little bit of ignorance had been driven from the world. Err...on an unrelated note, where did you find this?
I would also add that with inflation, that money under the mattress is now actually worth LESS than when he started.
Careful Benedict you might make that poor guy's mind explode if you start talking about the changing value of money over time.
Tell him you only have 1200$, thus make 100% per year. He will be amazed. LMAO! Or just say "It better be risk free, you're actually saving at -2 or -3%." (inflation) You really wanna explain that to him? That's hopeless! I'm not a finance guru, but I still understand that!!!
Did a google search on the name. It was posted here http://forums.offtopic.com/showthread.php?t=1478968 You need to register before you can even view it, so I did so. The first reply was The second reply was Spicymcdumbass replied with
Offtopic.com I'm so perplexed by this. I ALWAYS try and explain stuff like this to people, but I think he crossed this barrier that I have... when it's just TOO far out there. TOO far for me to even THINK about what is in this guy's head.
Thanks for posting those. It just gets worse, but I'll save him the embarassment: Spicy: HAY GUYS, I'M STARTING TO SEE WHY MY REASONING IS FU****. Although I did have some valid points about the stock market not making money in 3 year periods. EDIT- And this was after 20+ posts in his defense.
LOL! I would tell him that he better get used to working at Burger King because its likely to define his next 30 years. Then I would tell him to immediatly cash all his paychecks and give the money to his father to manage for him. Give it to ANYONE to manage for him! I honestly dont know how you would begin to explain compound interest, inflation, rates of return, fixed income investments..... any of that when he doesnt have an even remote understanding of basic math. Too much like trying to explain the color blue to a blind man. Terry
I think what he was doing was thinking "13%" instead of "100% of the cash I put in, plus an additional 13%." Did that thread get deleted? I can't go back to it to see the whole thing.
