Comments on: Having A Baby? Here’s An Amazing Idea That Will Teach Them What Investing Is All About http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/ Simple, applicable personal finance advice for the modern world Sat, 21 Nov 2009 22:03:21 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rob http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-8394 Rob Thu, 01 Mar 2007 06:45:07 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-8394 @Doug. 1/6th of 600 is 100. While he put all 600 into the fund - at each birthday he took out the equivalent of $100 invested. @Doug.

1/6th of 600 is 100.
While he put all 600 into the fund – at each birthday he took out the equivalent of $100 invested.

]]> By: Doug http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-8326 Doug Wed, 28 Feb 2007 23:44:20 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-8326 Umm how did the $600 suddenly turn to $100? Did the father lie to make the investment's yield seem more significant to the son? "his father put $600 into a mutual fund"... "on his son’s 10th b-day...gave his son 1/6th..., saying “This is the product of investing $100 on the day you were born and doing nothing else" If the man was so wise to invest in that manner, he sure didn't teach his son very well to just waste it on $300 in video games for his 10th birthday. Financial wisdom doesn't go well with wasteful extravagent spending. Umm how did the $600 suddenly turn to $100? Did the father lie to make the investment’s yield seem more significant to the son?

“his father put $600 into a mutual fund”…

“on his son’s 10th b-day…gave his son 1/6th…, saying “This is the product of investing $100 on the day you were born and doing nothing else”

If the man was so wise to invest in that manner, he sure didn’t teach his son very well to just waste it on $300 in video games for his 10th birthday. Financial wisdom doesn’t go well with wasteful extravagent spending.

]]> By: Andromeda http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-3380 Andromeda Wed, 17 Jan 2007 19:05:30 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-3380 The single most valuable thing my parents ever did to teach me about money was when my mom showed me her retirement account statements when I was a teenager. They had all these cool graphs showing what she actually had, and how it had developed, and what the same amount of money invested at different ages would have resulted in now. (And, in particular, the effect of some bad decisions she'd made when younger was wildly apparent -- I could tell that she wouldn't be able to afford to retire if she weren't married to my dad.) The magic of compound interest burned itself into my eyeballs and I swore then and there I was starting to save for retirement in my twenties. Didn't get as much done in my early twenties as I would have liked, but did start saving, and here I am 28 with a nontrivial account built up. I may have to start putting a lot less into retirement with a baby on the way and college to think about...but while I'm saving for college in my 30s, at least compound interest will be doing its magical thing. The single most valuable thing my parents ever did to teach me about money was when my mom showed me her retirement account statements when I was a teenager. They had all these cool graphs showing what she actually had, and how it had developed, and what the same amount of money invested at different ages would have resulted in now. (And, in particular, the effect of some bad decisions she’d made when younger was wildly apparent — I could tell that she wouldn’t be able to afford to retire if she weren’t married to my dad.) The magic of compound interest burned itself into my eyeballs and I swore then and there I was starting to save for retirement in my twenties. Didn’t get as much done in my early twenties as I would have liked, but did start saving, and here I am 28 with a nontrivial account built up. I may have to start putting a lot less into retirement with a baby on the way and college to think about…but while I’m saving for college in my 30s, at least compound interest will be doing its magical thing.

]]> By: Monday Morning Random Thoughts | Random thoughts http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-948 Monday Morning Random Thoughts | Random thoughts Tue, 12 Dec 2006 03:54:51 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-948 [...] Trent at The Simple Dollar has the answer to my newborn conundrum. Here’s a reminder of the conundrum. If you haven’t added the Simple Dollar to your RSS reader, stop reading this site and do it now. It’s that good. [...] [...] Trent at The Simple Dollar has the answer to my newborn conundrum. Here’s a reminder of the conundrum. If you haven’t added the Simple Dollar to your RSS reader, stop reading this site and do it now. It’s that good. [...]

]]> By: Monday Morning Random Thoughts | Lazy Man and Money http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-945 Monday Morning Random Thoughts | Lazy Man and Money Tue, 12 Dec 2006 02:59:04 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-945 [...] Trent at The Simple Dollar has the answer to my newborn conundrum.  Here’s a reminder of the conundrum.  If you haven’t added the Simple Dollar to your RSS reader, stop reading this site and do it now.  It’s that good. [...] [...] Trent at The Simple Dollar has the answer to my newborn conundrum.  Here’s a reminder of the conundrum.  If you haven’t added the Simple Dollar to your RSS reader, stop reading this site and do it now.  It’s that good. [...]

]]> By: Lazy Man and Money http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-843 Lazy Man and Money Sat, 09 Dec 2006 16:42:21 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-843 Thanks, you just answered <a href="http://www.lazymanandmoney.com/best-financial-gift-for-a-friends-with-a-newborn/" rel="nofollow">one of my questions</a> with something that's a variation (and a better one) of <a href="http://www.lazymanandmoney.com/lazy-mans-trust-fund/" rel="nofollow">my own plan</a>. I think this is exactly what I'm going to do. Thanks, you just answered one of my questions with something that’s a variation (and a better one) of my own plan. I think this is exactly what I’m going to do.

]]> By: Adeline http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-816 Adeline Sat, 09 Dec 2006 10:19:11 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-816 This is a great idea, but other than money, throwing a birthday party once a while could also keep good memory of his <a href="www.child-birthday-party-tips.blogspot.com/" rel="nofollow">Birthday.</a> This is a great idea, but other than money, throwing a birthday party once a while could also keep good memory of his Birthday.

]]> By: financial baby steps http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/comment-page-1/#comment-808 financial baby steps Sat, 09 Dec 2006 05:32:15 +0000 http://www.thesimpledollar.com/2006/12/08/having-a-baby-heres-an-amazing-idea-that-will-teach-them-what-investing-is-all-about/#comment-808 I hear you and am already taking care of business ;) I hear you and am already taking care of business ;)

]]>