teahouseblossom
Wednesday, January 18, 2006

      ( 12:40 AM ) teahouse
 
Spendthrift

I've been reading a lot of financial books lately.

You know - the ones that give advice like:

"The Cappuccino Factor - stop buying coffee in the morning and you'll save $10 million by age 30!!"

"If you bring your lunch to work every day, and invest it in a stock that has an annual yield of 48%, in 10 years you'll have $500 million for your retirement!"

"All you have to do is put your change in a jar at the end of each day. Doing that, you'll have $1 million by the time you turn 65, assuming a savings account with a 64% interest rate!"

"If you send your kid to community college instead of an Ivy League University, you won't have to eat dog food when you're retired!"

"Foregoing that one manicure a month could mean the difference between having a private nurse when you're 90 and living in a Medicaid-approved nursing home where the orderlies abuse you daily!"

These books have me convinced that saving every penny possible can have a huge financial impact on my life 50 years from now.

In the meantime, I haven't gotten around to buying any 2 cent stamps for the postal rate increase that went into effect last week.

I still have some 3-cent stamps from the previous postage rate increase, a couple of years ago. I've been using those to make up the extra rate.

So technically, I'm overpaying each letter I send by 1 penny.

According to the people who write these financial books, as a result of sending out 10 letters last week, I've already screwed myself out of approximately $486,254.58 in retirement funds.

I might as well start stocking up on the dog food now.

Assuming a 64% rate of return, that's 1000 cans of dog food I can have ready to start eating by age 65.
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THIRTYSOMETHING (!!) year old Asian American New Yorker, lawyer, amateur musician, curious girl taking a bite out of the Big Apple. Don't mess with me - I'm short and I look demure, but I carry a big purse. And I've just embarked on the journey of married life in Manhattan.


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