Think twice before you spend

August 4, 2007
If I were to save $1 in a savings account earning 4.5%, in 25 years that $1 would be worth$3.01. That same $1 invested in a mutual fund earning 8% would be worth $6.85. Those numbers are before taking into consideration of any tax deferrals for putting the $1 in an IRA or other tax deferred investment. Now I need to remember that when I want to spend $1 frivolously that it costs me much more than $1.