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pennies.

Tuesday. 3.2.10 3:03 pm

so a guy just came into the bank with about eight hundred bucks worth the pennies.

why would anyone keep so many pennies? yes, now you have eight hundred dollars, but if that was income you were waiting on, then was it worth it?

he could've been depositing those pennies into a savings account, or even a 401(k) where his employer could be matching contributions made. assuming that he has a substantial salary, or any type of salary, a measly eight hundred bucks in a 401(k) could produce an eight hundred dollar match from his employer, on top of accrued interest. that's at least sixteen hundred dollars.

given the current status of the economy, he could've lost some of that money with poor investing, so let's try another route.

perhaps his employer could enroll him in a simplified employee pension plan, in which case those pennies could be put into retirement accounts that are guaranteed to earn interest. yes, this is the route he should've gone. he would get the employer match of eight hundred bucks, so he would have a minimum of sixteen hundred, plus that guaranteed interest.

i hope you now understand that no, it wasn't worth it for him to keep those pennies in jars.

unless he wanted to buy this. then it would be worth it.

2 Comments.

I'm curious to know how he managed to carry all of his pennies into the bank.
» randomjunk on 2010-03-02 03:23:52

Haha. Is that the new Uke you're thinking about buying?!? If so, DO IT! Owning something as sweet as that is WAY more important than a bowling ball! =p
» SporadicFunk on 2010-03-02 04:17:27

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