The Tin Can Millionaire

Generali

http://www.arbing.co.uk/millionaire-tramp/

AKA how to gain from compound interest.

Meet Curt Degerman. For 40 years he spent his days searching through the bins of a small Swedish town called Skellefteå. Looking for scrap metal and tin cans.


After he died of a heart attack aged 60, it was discovered he had left behind a portfolio of stocks and shares worth at least $1,100,000 and a safety deposit box containing 124 gold bars valued at $375,000.

Of course this is exactly how the Baby Boomers ended up with their squillions: they have, on average, done exactly what Curt did only without eating from bins.

If in 40 years of savings you can save £10/day then the chances are high you will end up with a million dollars.

stator

But who wants a million dollars when your 60? When you've got arthritis and diabetes and are slightly incontinent.

CLAPTON

40 years ago would be 1975

if you could saved £10 per day for about 4 year you could have bought for cash a nice family sized terrace house in London : this would probably be worth more than a million without all those tedious tin cans
and without compound interest.

sadly this option is no longer available for young Londoners due to the huge house price inflation in London caused by the huge number of immigrants living there.

PasturesNew

It's hard to have £10/day left after the roof's over your head, the basic utility bills and council tax are paid and you've put cheap beans on toast on the table for tea.

PasturesNew

stator wrote: »

But who wants a million dollars when your 60? When you've got arthritis and diabetes and are slightly incontinent.

Better to have it then than never. At least then you could use that £1million to get somebody to push you where you wanted in a wheelchair and a pretty nursey to manage your diabetes and change your nappies.

Generali

stator wrote: »

But who wants a million dollars when your 60? When you've got arthritis and diabetes and are slightly incontinent.

I suspect that in general having a million dollars is nicer than not having a million dollars.

Graham_Devon

But the boomers didn't do it by saving £10 a day.

cells

What a waste. Saved everything and then died. It should be a tale of how not to invest and how not to live your life.

cells

CLAPTON wrote: »

40 years ago would be 1975

if you could saved £10 per day for about 4 year you could have bought for cash a nice family sized terrace house in London : this would probably be worth more than a million without all those tedious tin cans
and without compound interest.

sadly this option is no longer available for young Londoners due to the huge house price inflation in London caused by the huge number of immigrants living there.

Nor would that option be available without the immigrants as that £1m terrace would probably only be £500k

wotsthat

Generali wrote: »

I suspect that in general having a million dollars is nicer than not having a million dollars.

Not on Internet forums.

chucknorris

wotsthat wrote: »

Not on Internet forums.

It's a good job that we don't live on internet forums then.