Saving a "latte" money


	Saving a "latte" money

egsnyder

12-10-2008 12:44 PM

134 views

tags:

frugal, $$, money

egsnyder says:

Amazing... the power of compound interest.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/150baa16-c3bc-416b-a8a1-a85b4f30cca1/7409D421-957D-4BBE-9E84-E92BA3BF9D0B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/" href="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/" style="font-size: 11px;">careergirls.wordpress.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><H2>Save a “Latte” Money!</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><H4>December 10, 2008 · <A href="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/#comments">No Comments</A></H4></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><SPAN>I happened to catch a news segment about how <A href="http://starbucks.com">Starbucks</A> is being affected by the recession and it got me thinking.<SPAN>  </SPAN>First, I love Starbucks and if I could have a dream office, I’d place a desk in the middle of my Starbucks and work happily.<SPAN>  </SPAN>Second, I admire their business model and branding (my favorite book about this is <A href="http://www.amazon.com/Starbucks-Experience-Principles-Ordinary-Extraordinary/dp/0071477845">The Starbucks Experience</A>).<SPAN>  </SPAN>Therefore, I found it surprising that even Starbucks’ sales were down.<SPAN>  </SPAN></SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><P><STRONG><SPAN>Despite the current economic condition, the average expected return for retirement accounts is still 10%.<SPAN>  </SPAN>If you put that $75/month into your <A href="http://en.wikipedia.org/wiki/401(k)">401(k) </A>plan, your contribution will grow to </SPAN></STRONG><STRONG><SPAN>$5,931.18</SPAN></STRONG><STRONG><SPAN> after 5 years.  </SPAN></STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><P><STRONG><SPAN><SPAN>·<SPAN>         </SPAN></SPAN></SPAN></STRONG><STRONG><SPAN>40 years, <SPAN>$478,333.52</SPAN></SPAN></STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://careergirls.wordpress.com/2008/12/10/save-a-latte-money/"><P><STRONG><SPAN>Wow, now I’m impressed.<SPAN>  </SPAN>Who knew that your cup of joe was so expensive in the long run! I hope this inspires you to take a look at your 401(k) contributions today and make sure you are putting at least this much away for your future.  For other scenarios, check out this <A href="http://www.vertex42.com/Files/savings-interest-calculator.xls">easy to use calculator</A>.<SPAN> </SPAN></SPAN></STRONG></P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7409D421-957D-4BBE-9E84-E92BA3BF9D0B/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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