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Monday, July 11, 2005
The Time Value Of Money
There are some things about money that should be tops on your mind when ever you think of this handy medium of exchange. And...
The first, and most important aspect of money that you must never forget is its "Time Value".
The Time Value of Money refers to the fact that yesterday's money is worth more than today's money and today's is worth more than tomorrow's.
In 1932 the United States experienced The Great Depression... unemployment soared as did the price of things. Using that time as lesson number 1 in our understanding of...
Put in another way, if you bought exactly the same items in 2005 and 1932 (say one cup of coffee), they would cost you $1.00 and $0.08, respectively.
Let's take a look at another example.
This time we'll look at Joe Karbo's book called "The Lazy Man's Way To Riches".
Back in 1973, Joe was selling the book for $10 a piece. But, what would the adjusted value be in 2005?
Turns out that $10 in 1973 is equivalent to $44.15 in "2005 U.S.A. Dollars!"
On the day that this report was written I checked the price of Joe Karbo's "Lazy Man's Way To Riches" and for a new copy it was:
$30.00
If they did, then the book should be selling for at least $14.15 more than the current price.
Now, you might want to perform these type of calculations yourself using different dollar amounts and different starting and ending years.
"How can I do this for myself?", you may ask.
Excellent question.
Here's the answer: Go over to http://www.westegg.com/inflation/ and you'll find a Time Value Of Money Calculator...
The owner of the page calls it an Inflation Calculator but that's the one that I used to generate the numbers found on this page.
For Sell Info Products Online dot com (www.sellinfoproductsonline.com) this is LeBlond, Gerard LeBlond, and I'll see you there.
P.S. Here's an interesting "Time Value Of Money" question:
In 1498, in Italy, Michelangelo was commissioned to sculpt the Pieta for
450 gold papal ducatsIf any one can figure out what 450 gold papal ducats of the year 1498 is worth in year 2005 U.S.A. dollars please let me know. You can send me a note at Gerard LeBlond, c/o West-Gate Press, P.O. Box 226, Jamesville, NY 13078-0226
P.P.S. If you get the answer correct I'll send you a special thank-you gift.
Caio!
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