Re: I'm a grand dad
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: x Baldwin Motion</div><div class="ubbcode-body">very cool!! details on car? </div></div>
Guess I never saw this post.
Car is called an american retro red racer. It is loosely based on early 50's Ferrari race cars. I even got a real Ferrari chrome hinged gas cap set up as well as Ferrari decals with it. Just haven't put them on. The car is more for looks than function. Pretty crappy pedal and steering mechanism. Paint finish is top quality though.
Planning on a photo shoot with the twins and the car to use for advertising. Then I can pay them each $1000. Because they will have earned income, we can do tax returns and they can each contribut the entire $1000 to a Roth IRA. Assuming the US economy doesn't implode, based on just a modest rate of return, each IRA should be worth about $360,0000 in TODAY'S dollars (adjusted for inflation) at age 65 (i.e. if it takes $2m in 2078 to purchase what $360,000 would purchase today, they would each have about $2m. We will decide over the next few years whether to add to that. Nice head start on retirement.
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