I ran across this old riddle today. Would you rather have a million dollars now or a penny doubled every day for thirty days? The right answer is a penny double because in the long run you will have more money. I think its funny because depending on the situation I might be willing to take the million dollars now, what if you cant survive thirty days without the million dollars. I think this riddle holds a little weight because if you had to be honest would you be willing to wait to get the pay out. life is the say way a good retirement and good investments takes time. so I guess the better question is can you make it thirty days and save that one penny?
I can imagine that many people have tons of ideas and cool tricks to help with your money. The best tip anyone can give you is put money away for a rainy day. Yearly some major event will happen, car needs new tires or even a new car. the best thing to do is already have the money on hand. The next question that I am sure you are ask is how much? Well that’s a little trickier, I would say about 10K. If you don’t already have the money start putting back a little at a time. I promise once you get to 5K getting to 10K will be a breeze.