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Re: Re: land prices
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Posted by 333 on February 03, 2004 at 09:29:10 from (207.177.83.71):
In Reply to: Re: land prices posted by jf on February 03, 2004 at 03:27:13:
He might have basically farmed it for nothing, but in 20 years he has saved the amount of the interest payment, which you said is 1500 an acre if it doubled, x 185 acres is 275,000, you would have to have a darn good job, to invest that much in a 401k to equal 275,000 in 20 years assumming a anuall return of 7%. I think your thinking is wrong, I had a 40000 a year job and made a 30% on my stocks and only managed to make 10000 in three years starting from zero, putting away about 3 to 5 % of my salary, some being matched, how much would I have at 20 years at normal rates of 5% I do not think it would be 275,000 maybe a 100000.
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