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Value Of Saving

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That recent article that said that £3,600 investing a year would lead to a £70 million fortune over 70 years (the wonders of tax free compounding), has got me thinking.

It means that a mere hundred pounds a month saving can make you worth £23 million in 70 years. This alone puts the kibosh on Sky TV.

Even cutting TV and the BBC's licence fee will give you a £3 million nest egg after the intervening 70 years have flown by.

And not playing the lottery will net you a cool million by 2080.

What other small savings/large fortunes can be made?

(Mods, please feel free to move OT at will.)

Assumes 12% growth compounded every year for the entire 70 years.

I don't think so.....

Edited by juvenal
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Only property would give you such returns.

That is a past assumption for the moment. Since WW11 property in the UK and aother places has risen beyond reason on the back of laz lending policies and inflation. Well, we'll see what happens next, but my bet is that property will be stagnant or even carry on falling for years.

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