The model and the doctor :: a financial tale.
The story is about twins both gorgeous and smart. Tina becomes a model at 16 and does well, but her career is over in 6 years – such is the fickle nature of her profession. She then takes it easy and becomes a dog walker – and although she loves her job it only covers expenses with nothing left over to invest. She managed to invest $3000 per month for her 6 years of modelling and then adds nothing for the next 38 years.
Her sister Sally, at 18, studies to become a doctor and qualifies after 7 years. She has a few loans to pay off, which she does in 5 years but then starts to invest $3000 per month for the next 30 years.
Tina, at 60, ends up with $3 794 560 not having added anything to her investment for 38 years. She contributed $216 000.
Sally also retires at 60 and ends up with $3 659 912 pretty close. But she contributed $1 080 000 to her total.
You get the idea....
**Interest worked out at 7%
***I read this story ages ago - original - and probably better version here ( as well as others) - well worth a read. Patrick is a great writer.
Congratulations @life-of-al! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @life-of-al! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Hi! Apologies for popping onto your comments but have called out to most people on a post with very little feedback. I have just launched the new @steemsouthafrica account and discord server and would be thrilled to have you join us! We are trying to build up some SA STEEM momentum again – organising regular meet-ups etc. If you are interested, you can hop onto the new server HERE – hope to see you there soon! Oh, and you are welcome to start making use of the #steemsa tag on your posts so that we can support them with an upvote and resteem!
JOIN US ON TWITTER