[pct-l] use of that much money

[kraig.mottar at verizon.net (Kraig Mottar)]

So, I will concede, in most cases [that I 'll probably be in] anytime soon, your objection to this plan is correct. But for long journeies, it would work. For instance to hike from Alaska to Tierra del Fuego especially if you wait til return to Alaska or one of the states, as far north as California.

Kraig

> From: "Brett" <blisterfree@isp01.net>
> Date: 2004/12/12 Sun PM 08:17:31 PST
> To: <pct-l@mailman.backcountry.net>
> Subject: Re: [pct-l] use of that much money
> 
> C'mon Kraig, give us a break. The average thru-hiker hits 
> the trail with just enough spare funds in the bank to 
> complete the journey and handle down-time thereafter while 
> looking for a job. He/she/it is not bankrolling that 5 grand 
> for years and years, waiting for compounding interest to 
> work its magic. Why? Because he'd long since have lost 
> interest (in waiting to hike!) before the interest on $5000 
> equaled the principal. Even if he squirreled that money away 
> at, say, 3.5%, the yearly interest earned would be a mere 
> $175. Assuming the interest is compounded, the following 
> year's new interest earned would be $181.
> 
> Year 3: $187
> Year 4: $194
> Year 5: $200
> 
> After 5 years of sitting on the nest egg, we've netted a 
> grand total $937. If the goal is still to complete the 
> thru-hike using interest alone, we're left dreaming in the 
> corner for an entire generation. Unfortunately this is 
> planet earth, not the moon, and the 365 days it takes to 
> revolve around an annual percentage rate equal in mass to 
> space dust is better spent making the most of what we 
> already have.
> 
> - bf
> 
> 
> ----- Original Message ----- 
> From: "Kraig Mottar" <kraig.mottar@verizon.net>
> To: "Greg Hammond" <mr_potatohead2005@yahoo.com>; 
> <pct-l@mailman.backcountry.net>
> Sent: Sunday, December 12, 2004 8:54 PM
> Subject: Re: [pct-l] use of that much money
> 
> 
> > Apparently little is known here about compount iterest.
> > Get as simple compound interest computer program and 
> > you'll see you don't need a million dollars to make it add 
> > up.
> > And make sure it is money you don't need, ie savings.
> >
> > Kraig
> > 
> 
> _______________________________________________
> pct-l mailing list
> pct-l@mailman.backcountry.net
> unsubscribe or change options:
> http://mailman.hack.net/mailman/listinfo/pct-l
>