I want to be a billionaire?

Question

i owned 12 different types of businesses and my fortune is to become a billionaire.and i'm making investment in my bank through this table for 500 weeks(as im changing this table from years to weeks) .which i found from http://in.rediff.com/money/2006/jun/29perfin.htm will this be successful?

Answer 1

The table you referenced shows how money can grow through compound interest.

This particular table has nothing to do with making a regular investment.  This table shows what happens if you leave a one-time investment of 100 in an an account paying 10% annual interest for a long time.

If you want to become a billionaire you need to be smart, educated, work hard, and get lucky.  Start by educating yourself about the terms in articles like the one you referenced so you can understand the point.

There are lots of websites that will provide you with tables or equations for calculating future value of regular investmenst.

500 weeks is about 10 years. If you make a one time investment of 100 and you can find an instrument that will return 10% (most bank accounts return much less most places) then you will have, according to your table, about 259 at the end of the 500 weeks.  Not millions or even thousands.

If you make a routine investment of 100 every year for 10 years in an account that pays 10% interest, then you will still have less than a 1000.

The point of the article you referenced is that interest over time, especially long time, can really add up.

Answer 2

Hard to see you being a billionaire when you can't create a sentence, sorry.

Answer 3

A consistant 10% return is real hard to achieve.

Something that fails to be considered is inflation. And that, like interest, compounds as well. In 500 years a billion will be worth a fraction of what it is today.

How silly for you to think you can just "change" it from years to weeks. Compounding doesn't work like that. The main factor is TIME.

Answer 4

Its a possibility but I think I would try a different plan perhaps

Answer 5

Business is the key to money-making, but to make a billion dollars is terribly rough.

Answer 6

Take a look at Warren Buffet's strategy of value investing.

Read Security Analysis by Graham and Dodd.

There are always opportunities to become a billionaire based on your idea and execution of product.

Facebook, although not fully sold has made the founder a billionaire on paper.  It all stemmed from an idea to put all of the Harvard classmates on a network where they could view each other and communicate.  By the way, this was only 2004!

Answer 7

Before you can become a billionaire, first you need to be a millionaire. But becoming a millionaire is a real challenge in itself. Good luck. That could be all you need.

Answer 8

you will die before you become one

Answer 9

i like u for trying to get to the top but i hate you because i think yur bragging...

a real bizznass man in my veiw wouldnt even ask that kind of question mann........YA DIGG!!!!!!!!!!!!!!!!!!!!!!!!!

Answer 10

No.  I'll bet you $500,000,000 you won't have $1,000,000,000 US in the next 20 years.

Answer 11

Guys that make billions dont hang out on these forums (ys i know that includes me).

Seems like a pointless exercise after 30 Mil or so, stop and smell the roses rather than compete with everyone ensuring you always have that inferiority complex