# if I earn 25 cents a day here?

United States
March 18, 2007 2:22pm CST
then every month I invest it at 12% compounded when could I retire and do only mylot for work?
5 responses
@cjthedog64 (1553)
• United States
23 Mar 07
If you're really serious about making some money, aim for \$1 a day here, and get a real job somewhere and compound that money instead! :)
@weemam (13377)
22 Mar 07
I started fot the money too but I have made so many good friends here at My Lot that the money is just an added bonus , its like a dream come true to be paid for chatting xx
22 Mar 07
Factoring for the future value of an annuity at 12%: At \$0.25 a day you get \$91.25 a year 30 years - \$22,021.36 40 years - \$69,996.96 50 years - \$219,000.00 At \$1 a day you get \$365.00 a year 30 years - \$88,085.45 40 years - \$279,987.85 50 years - \$876,000.00 Now, be sure to take into consideration the time value of money. You have to discount these amounts based on the present values. Assuming a 4% rate of inflation, take the amounts by the following factors to get an idea of what that amount will actually be worth in today's dollars. 30 years - .308 - \$6,782.58 (\$0.25), \$27,130.32 (\$1) 40 years - .208 - \$14,559.37 (\$0.25), \$58,237.47 (\$1) 50 years - .141 - \$30,879.00 (\$0.25), \$123,516.00 (\$1) That's right, in 50 years \$876K will be equivalent in purchasing power to what you can buy for \$123K today. Better plan for it. (By the way, retiring on mylot proceeds is probably not the best plan!) But a fun exercise all the same. Draven the Respectful Atheist http://dravenwriter.blogspot.com
• United States
18 Mar 07
It would take a long time to do that considering the fact that to earn payout from mylot it will take a long time for you. If you want to build a retirement, or work that you can do on retirement I'd start early I have a few things going on that could help you reach your retirement all you have to do is become my friend, join and I'll teach you how to become self sustainable. take care Jon
@LittleMel (14055)