Comments on: I will spend a million dollars on gas http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/ A personal finance blog where we share insights on carefully saving money, investing, early retirement, mortgages, stocks because the little things matter in achieving financial freedom! Mon, 01 Dec 2008 18:50:32 +0000 http://wordpress.org/?v=2.6.3 By: Justin http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-7039 Justin Sat, 07 Jun 2008 03:22:31 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-7039 This article is foolish. You're calculation a future value and then expressing it in present value. That $1M is actually worth a lot less right now in this moment. Also, if you're going to do such an outrageous analysis, why single out gas? People make trade offs with every buying decision. A coke is worth $1 to me. Driving to get the coke is worth $1 to me. Why single out the gas to get there and not the soda as well? If you've taken an economics class you know there's no free lunch. Money now can be turned into a lot of money later because money now is more satisfying and has a higher rate of utility per dollar for most people. There's no 100% correct answer between spending now and saving for later, it's a utility balance just like any other decision. This is drivel. This article is foolish. You’re calculation a future value and then expressing it in present value. That $1M is actually worth a lot less right now in this moment.

Also, if you’re going to do such an outrageous analysis, why single out gas? People make trade offs with every buying decision.

A coke is worth $1 to me. Driving to get the coke is worth $1 to me. Why single out the gas to get there and not the soda as well?

If you’ve taken an economics class you know there’s no free lunch. Money now can be turned into a lot of money later because money now is more satisfying and has a higher rate of utility per dollar for most people. There’s no 100% correct answer between spending now and saving for later, it’s a utility balance just like any other decision.

This is drivel.

]]> By: Run Your Own Starbucks http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-721 Run Your Own Starbucks Thu, 28 Jun 2007 15:47:19 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-721 [...] potential of saving $90 a month, compare it with $200 dollars per month becoming 1 million dollars here). If you absolutely love Frappucinos, you can get it by just blending this with any regular [...] [...] potential of saving $90 a month, compare it with $200 dollars per month becoming 1 million dollars here). If you absolutely love Frappucinos, you can get it by just blending this with any regular [...]

]]> By: MoneyNing http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-531 MoneyNing Sat, 09 Jun 2007 03:33:08 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-531 Your situation is so similar to mine (RSX and 1.5 mile from work). I have always wonder how much bad it is for my car since we are driving such short distances everyday. Your situation is so similar to mine (RSX and 1.5 mile from work).

I have always wonder how much bad it is for my car since we are driving such short distances everyday.

]]> By: Wealth Building Lessons http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-528 Wealth Building Lessons Sat, 09 Jun 2007 03:00:07 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-528 I drive a TSX but then again my work is 1 mile from home! I drive a TSX but then again my work is 1 mile from home!

]]> By: Judging People by Appearance | My Own Millions http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-445 Judging People by Appearance | My Own Millions Thu, 24 May 2007 22:39:18 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-445 [...] per month, it will grow to $1 million after 45 years with an 8% annualized return (see calculation here). Wouldn?? you say that you can donate a portion of that to charity, which will be great for [...] [...] per month, it will grow to $1 million after 45 years with an 8% annualized return (see calculation here). Wouldn?? you say that you can donate a portion of that to charity, which will be great for [...]

]]> By: 11 Ways to Save Gas | My Own Millions http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-440 11 Ways to Save Gas | My Own Millions Wed, 23 May 2007 15:15:10 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-440 [...] promised from the last post about spending a million dollars on gas, I went to research on several ways to save us gas.? I was [...] [...] promised from the last post about spending a million dollars on gas, I went to research on several ways to save us gas.? I was [...]

]]> By: MyOwnMillions http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-426 MyOwnMillions Tue, 15 May 2007 20:54:32 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-426 The three things you mentioned, I have done<br/><br/>Good gas mileage - I drive a Acura RSX, so maybe half a point for that?<br/><br/>Take the bus - Can't since I live in Orange County, California and there isn't that many buses<br/><br/>Energy Stocks - I own Exxon Mobil (XOM) and Diamond Offshore Drilling (DO), so definitely a big check there. The three things you mentioned, I have done

Good gas mileage - I drive a Acura RSX, so maybe half a point for that?

Take the bus - Can’t since I live in Orange County, California and there isn’t that many buses

Energy Stocks - I own Exxon Mobil (XOM) and Diamond Offshore Drilling (DO), so definitely a big check there.

]]> By: Ben http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-417 Ben Mon, 14 May 2007 03:30:21 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-417 Gas prices are insane! It's a good reason to buy cars with good gas mileage and take the bus when you can. <br/><br/>It might also be a good idea to invest in energy stocks :) Gas prices are insane! It’s a good reason to buy cars with good gas mileage and take the bus when you can.

It might also be a good idea to invest in energy stocks :)

]]> By: MyOwnMillions http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-413 MyOwnMillions Fri, 11 May 2007 04:56:16 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-413 I think that's another point that people should understand. In the long run, we should be focusing our attention on long term captial growth. If our horizon is really that long term, we should put our money into low cost index funds since it will get us the 8% per year in the long term. I think that’s another point that people should understand. In the long run, we should be focusing our attention on long term captial growth. If our horizon is really that long term, we should put our money into low cost index funds since it will get us the 8% per year in the long term.

]]> By: Anonymous http://moneyning.com/money-tips/i-will-spend-a-million-dollars-on-gas/#comment-410 Anonymous Fri, 11 May 2007 01:29:09 +0000 http://blog.davidmillions.com/2007/05/i-will-spend-a-million-dollars-on-gas/#comment-410 8% is not easily achieved unless you are investing wisely. 5% would be more fruitful since those rates are easily achieved using CD's (little risk).<br/><br/>Mutual Funds/Stocks can fluctuate and you can lose $$ if you're not paying attention. 8% is not easily achieved unless you are investing wisely. 5% would be more fruitful since those rates are easily achieved using CD’s (little risk).

Mutual Funds/Stocks can fluctuate and you can lose $$ if you’re not paying attention.

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