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I wish my Great Grand Dad was smarter

 
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http://in.rediff.com/money/2006/jun/29perfin.htm
According to this article if the great grandfather invested Rs 100, 150 years ago, I would have inherited Rs 16 crore (Rs 160 million).
Guess I would have to share it with a heap of cousins too.

How practical would it be to do something like this?

I was thinking that i could easily put aside Rs or even $ 1000 in 10 separate accounts. Now every 50 years one generation of mine could release one account on one condition and that is they do the same but at 10 into $200 accounts and put a similar condition i.e. to double the initial amount. If after every 50 yrs nobody claims the money it should go to charity.
Wow i could make a lot of people happy that way and yea a lot of disputes and illegal family trees too.
Any thoughts.
 
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The best thing that my great grandfather did was that he did not remain single � and this could be the best thing I can do for my greta grandchildren.
 
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Interesting link.........!
 
Chetan Parekh
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A guy saw a hording outside restaurant �You eat, your grand children will pay�. He was delighted. He had heavy eating. When he was living the restaurant, waiter gave him a bill. He fingered towards the hording. Waiter said � This is the bill of what your grand father eat�.
 
Aj Mathia
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thinking further on this lines, if I had two kids (A and B) and each of them had two more and so on, there would be 1024 people roughly in the queue to recieve $48533612962035546875 each after 500 years and each would have to invest $2000 for this amount.
apart from this they would also get something from either A or B && then C || D or E || F etc
now this is getting me dizzy
 
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It was not that easy to invest Rs. 100 around 150 years ago. Rs. 100 was a very big amount at that time. Perhaps it is equivalent to investing Rs. 1000,000 today. Now can you invest Rs. 1000,000 as of today for 150 years or so so that your grandchildren will have crores of ruppes, or whatever currency they use at that time.

- Manish
 
Aj Mathia
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Originally posted by Manish Hatwalne:
It was not that easy to invest Rs. 100 around 150 years ago. Rs. 100 was a very big amount at that time. Perhaps it is equivalent to investing Rs. 1000,000 today. Now can you invest Rs. 1000,000 as of today for 150 years or so so that your grandchildren will have crores of ruppes, or whatever currency they use at that time.

- Manish



have a look at
http://eh.net/hmit/compare/
 
Manish Hatwalne
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Originally posted by Ajay Mathew:


have a look at
http://eh.net/hmit/compare/



Isn't it for USD?? USA is a developed country and economy works differently there. In India, rupees has devaluated a lot and the history of last 150 years has ben differnt. Though I wouldn't know exact valuation of Rs. 100 in 1856, but I think it should be somewhere between 5 lac to 10 lacs as of today.

Nevertheless, takeaways from the original article are noteworthy. Power of compounding is amazing.

- Manish
 
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I only wish my Grand dad had bought 1000 Infosys Shares 20 years back!!!
My worth would have been 30 crores now

Sigh
[ June 30, 2006: Message edited by: Shankar Iyer ]
 
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You could say the same thing about the value of old stamps for today's stamp collectors. However, if everyone had saved a few of those old stamps, they would be so common today as not to have the collector value.

The same thing is true of savings interest. Every everyone had put a few dollars in the bank a hundred years ago and let it grow without spending it, twenty-five years later there would be so much bank money available for loan (and so little money being spent) that interest rates would have gone way down. The lower interest rates would have suppressed the growth of these bank account accumulations.

In other words, it is only because so few people (if any) invested a few dollars a hundred years ago and let it compound without withdrawal that interest rates did _not_ go down, thereby allowing those few hypothetical people to be rich today.
 
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