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 ASB loan, worth to get it???

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Gigantic
post Apr 4 2011, 02:14 AM

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Please advise...

I am a 21 years old student and I did my calculation for 30 years because that's when I reach 51 years old.

From what I heard, maximum cash you can put into your asb account is 200k,anything more than that has to be the dividend

Let say you put in 200k... dividend 8% annually compound interest.

200,000 (Base)
216,000 (1 year)
233,280 (2 year)
251,942 (3 year)
272,097 (4 year)
293,865 (5 year)
317,374 (6 year)
342,764 (7 year)
370,186 (8 year)
399,800 (9 year)
431,784 (10 year)
466,327 (11 year)
503,634 (12 year)
543,924 (13 year)
587,438 (14 year)
634,433 (15 year)
685,188 (16 year)
740,003 (17 year)
799,203 (18 year)
863,140 (19 year)
932,191 (20 year)
1,006,766 (21 year) Millionaire!
1,087,308 (22 year)
1,174,292 (23 year)
1,268,236 (24 year)
1,369,695 (25 year)
1,479,270 (26 year)
1,597,612 (27 year)
1,725,421 (28 year)
1,863,454 (29 year)
2,012,531 (30 year) Millionaire!!

Is this correct?
Gigantic
post Apr 4 2011, 10:57 AM

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Where can I check the dividend for previous years?

Is there any other safe investment around?

 

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