scrabbler1 wrote:On a lighter note, my favorite bit about compound interest came from an old Seinfeld episode
Gold increaseth rapidly when making reasonable earnings as thou wilt see from the following: A farmer, when his first son was born, took ten pieces of silver to a money lender and asked him to keep it on rental for his son until he became twenty years of age. This the money lender did, and agreed the rental should be one-fourth of its value each four years. The farmer asked, because this sum he had set aside as belonging to his son, that the rental be added to the principal.
ladders11 wrote:Essentially this is why we're not all rich: nothing consistently offers returns above inflation.
lloydbraun wrote:This is a good one for young investors looking for an intro article.
http://bucks.blogs.nytimes.com/2013/01/ ... f=business
AndroAsc wrote:It's the inability to follow the plan which explains why not everyone is rich.
Which triggers a synapse... "Everybody ought to be rich" was the title of a 1929 Ladies' Home Journal interview with John Jakob Raskob (later to build the Empire State Building). In his words:AndroAsc wrote:It's the inability to follow the plan which explains why not everyone is rich.
(Average white-collar wage was $34/week in 1929, so fifteen dollars a month represented a savings rate of 10% of salary).Suppose a man marries at the age of twenty-three and begins a regular saving of fifteen dollars a month--and almost anyone who is employed can do that if he tries. If he invests in good common stocks and allows the dividends and rights to accumulate, he will at the end of twenty years have at least eighty thousand dollars and an income from investments of around four hundred dollars a month. He will be rich.
The Wizard wrote:It's a great article for grade-schoolers.
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