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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Feel The Power!
Albert Einstein believed that God's greatest invention was compound interest. Nothing beats the simplicity and purity of compound interest, he used to say. Stick $100,000 in a 5.2% bank account for 10 years and you'll have $166,018.85 at the end of the 10 years. If you added $10,000 a year to the account, you'd have $299,580.06 at the end of 10 years. If you put $20,000 in each year, you'd have $433,141.27 at the end of ten years. Play around with these numbers by clicking on Financial Calculators. I love this concept because of its simplicity.
Richard Russell has been writing financial newsletters since 1958. This is his most popular piece HERE on making money entitled "Rich Man, Poor Man.". In my mind, compounding is the true key to wealth creation and not trading stocks.
Yes, saving a bit over a long time is a sure way to growing your nest egg. Why? Because of the power of compounding.
Taken a step further, I wrote Albert Einstein was right......back in August, 2006 to examine the effects of compounding on leveraged real estate. Wow!
Also read: DOLLAR COST AVERAGING
click on chart to enlarge
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- 6 Reasons Homes Don’t Sell
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NOTE: Please click on the charts below to enlarge them [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
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