Topic: Give your child 1 million dollars. (Read 608 times)

4hisglory · « **on:** June 21, 2006, 04:32:55 PM »

Here how to give your child 1,000,000

When they turn 16, give them 2,000 (for 4 years) and put it in an IRA making 8% interest. By the time they retire at 67, they will have 1.1 million dollars.

Yelonda · « **Reply #1 on:** June 21, 2006, 05:38:04 PM »

Wow I've got a few years for my two. I'm gonna try that!

Thanks

Yelonda

playhear · « **Reply #2 on:** June 21, 2006, 06:07:40 PM »

Quote from: 4hisglory on June 21, 2006, 04:32:55 PM

Here how to give your child 1,000,000

When they turn 17, give them 2,000 and put it in an IRA making 8% interest. By the time they retire at 67, they will have 1.1 million dollars.

Yo, that's good.

Could you break something down for the child having a decent chunk of change for college? For example, "when the child's born, put X amount into a long-term investment." I haven't worked the numbers, but I'm sure something feasible could be calculated out.

Val215 · « **Reply #3 on:** June 21, 2006, 08:10:50 PM »

Great

csedwards2 · « **Reply #4 on:** June 22, 2006, 03:14:24 AM »

I kept this bookmarked for a few years because its a good idea.

Start on your first $1 million at age 16
http://moneycentral.msn.com/content/Investing/Startinvesting/P73751.asp?Rating=10&PageID=73751#Rating

Cherri · « **Reply #5 on:** June 25, 2006, 11:04:27 PM »

Awesome!

1voice · « **Reply #6 on:** June 26, 2006, 03:30:48 AM »

thats hot...

Author Topic: Give your child 1 million dollars. (Read 608 times)

4hisglory

Give your child 1 million dollars.

Yelonda

Re: Give your child 1 million dollars.

playhear

Re: Give your child 1 million dollars.

Val215

Re: Give your child 1 million dollars.

csedwards2

Re: Give your child 1 million dollars.

Cherri

Re: Give your child 1 million dollars.

1voice

Re: Give your child 1 million dollars.