The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1909-06-24
TO THE YOUNG
FOR COMFORT IN AGE ONE MUST
SAVE IN YOUTH.

FOR COMFORT IN AGE ONE MUST
SAVE IN YOUTH.
Systematic Putting Away Of Part Of
Money Earned 10 the Only Way
to Do 1t - Figures Worth
Studying.
A young man who would have q
competency at the end of ten years
must make sacrifices for the first two
or three years. Say that you, for in
stance, r earning $50 q week. At
the present time you may be spend
ing nearly all Of this, as thousands OF
others r doing, says a writer in The
Bookkeeper. Now. during the first
year, you must save $1,000. why"
you exclaim. IF / should save $1,000
a year that would make 100000 at the
end of ten years, without counting the
interest! You're off in your fguring!"'
But wait. We are supposing now
that you are having your share Of
prosperity, and that at different times
within the next few years you will
have doctors bills to pay and may
even be without employment at times.
Thes things must be taken into con-
s%ideration II you would save $4,000
in ten years. h
So the first year you save $1,000.
This leaves you a little less than $11
q week upon which to live during that
time. Perhaps you will have to move
out of your present home and rent one
that Is cheaper. For a time 1t will also
be necessary for you to contract fewer
tailoring bills, and in all probability
you will get your wife to aid you in
economizing; but you must save 1000
during that year and you will find that
you can do it.
In the second year your load will
become lighter, and then you will see
why it was necessary for you to save
$1,000 during the first year. The
$1,000 you San easily place out at five
per cent. interest and at the end of the
second year it will have earned you
$50. So during this second year you
have to save only $3.50. In other
"SAAo JOu AofO OAO uO11d1 d WO0h
more to spend on the comforts of life
during the second year than the first.
In this way your load continues to
get lighter and lighter. You begin
your third year swith $4,000 out at in.
terest, and during this year need save
only 5000, which leaves you two dol
lars a week more to spend than dur
Ing the first year; and SO it goes I'M
TIL at the end of your fifth year you
are saving only $3.50 a year, or less
then one-half of your $1,56O salary.
Each year you have more to spend.
At the end of your eighth year you
are saving just $3.50 a week, while
you have $3.50 to spend.
At the end of your tenth year you
have $4,000, which is earning you
$500 a year, and which may even bring
you $500 or $500 a year, If you invest
It well. If you only 80 years Of
age when you began saving you are
still too young to retire on $50 a
month, but now you can spend all
that you earn, and at the end Of an:
other ten years, If you do not gather
the Honey which your $4,000 is
making for you, you will be worth a
little over $17, 900, which, at six per
cent, will bring you an income of
$S5 a month for the rest of your life.
A modification of the above scheme
can be made to work to the profit OF
any wage Garner, no matter what his
weekly earnings may be, granting, Of
course, that they are sufficient to live
upon comfortably. For instance, If
the mar who earns SIS a week could
save seven dollars a week for IA years
he would have acquired a little for
tune of $4,000. This task Of saving
seven dollars a week out of SIS a week
for 728 weeks seems ~stupendous at
first, but when you figure it out care
fully you will see that it is not SO
difficult after all. In the first place,
you would have to save seven dollars
a week only for the first year, just as
the man who was working for $4,000
had to ave $1,000 for the first year
only. At the end of the first year you
would have s72S working for you, |
second veal this would have earned
you $500 at five per cent, SO that
this year you would need to. save only
$345.S0 instead of 1854, or $685. a
week. During the third year you
would have $72S working for pou,
which at five per cent, would carr
$36.40, leaving you $3.50 to save each
week that year. Figuring in this way
in the beginning of your sixth year
you would have to lay aside only
$3.50 weekly; at the beginning of
your ninth, 1920, and at the beginning
of your twelfth, only $3.15. Yet at the
end Of your fourteenth year you
would have saved over $4,000, which,
properly employed, would mean a
great deal to you in the years to come.
iselfDefense.
Ger - &hok ~ NN..-J.- I~-- 49, |