Romney and IRA math

[Botany]

Question With a $6,000 per year limit to put into your IRA how long would it take Mitt to accumulate $100,000,000 in his IRA?

Answer 16,667 years or 8,333.3 years if he and Ann were both putting in money together.

*******************************

Well that answers that.

[jberryhill]

1. But you missed something

His IRA fund manager may have made some really "lucky" investments.

The money doesn't just sit there. It earns more money. So, if the fund was invested in some really good picks, nudge nudge, then it could easily have increased by a lot.

[Voice for Peace]

3. true.. those special nickels transformed themselves into hundred dollar bills.

It doesn't happen in all IRA accounts.. just the ones with Mitt's special magic.

[jberryhill]

6. Just ones that make the "right" bets

[Botany]

4. wow that is awesome

Was the money in a Index fund that returns 3,000 % per year?

I gotta get in on that action.

[jberryhill]

5. Or something like that, yes

You know, Mitt has some very lucky money

[Botany]

7. My pure guess calculation would have Mitt getting a 667 % per year return on investment

he must have bought some really good stocks

and all those stocks split and when ever those stocks dropped in value
those stocks were sold and the money was put into stocks that went up
in value.

Or maybe Mitt sold short and made a killing before the real estate market
crashed in 2007/2008 and that is one of the reasons why Mitt doesn't want
us to see his taxes.

In all seriousness w/ all of Mitt's baggage why is he running for POTUS?




Mitt's Texas Home / Tax Shelter

[Blue Meany]

2. This may simply show the absurd profits Romeny was making

from predatory capitalism at Bain. However, I do know that the shares of his company, all of which he owned, were intially valued at $.01. However, when he left the company, he apparently negotiated hard to get the maximum benifit from leaving. I'm guessing he sold his shares for exorbitant amounts.