Came across an article on savings and compound interest. The author’s intent was to encourage savings by showing the power of compound interest.
The chart in the article showed how a $200/month investment at 3.5% would lead you to save $24,200 over ten years, and gain an extra $4853 in interest, for a total savings of $29,053.
Didn’t make me want to save any more.
How about this:
- Write a book
- Print 1000 copies for a total cost of about $5 bucks each. That includes cover design and layout and editing. And probably delivery to you.
- Sell 250 books at $20 to cover your costs