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Albert Einstein’s Philosophies For Growing Wealth
He was not a fan of communism in Russia, nor was he a supporter of German fascism or nationalism. The United States was politically the best environment for him, particularly with his belief that art and science relied on the availability and encouragement of individualism. With this philosophy, Einstein would have embraced frugality. Despite his world travels and, especially later in his life, his ability to command top salaries and fees, he maintained modest living environments. Albert Einstein was arguably one of the most brilliant thinkers in the twentieth century. His contributions to physics are well documented.
For example, suppose you saved and banked $100 a year ago. This year, you’ll be earning interest on $102 (original savings plus the interest earned). That might not seem like much, but understanding that simple fact can have a major impact on your financial success.
Remember: Inflation Affects Future Purchasing Power
Why can’t you take the 8th wonder of the world and do something great with it? If you want more wealth and abundance in this world, be the change. I believe in you, my fellow freedom fighter because I know you can make a difference.
One reply on “Compound Interest Is Man’s Greatest Invention”
What do the wealthiest and wisest investors have in common? They are always smiling, because they are making money every second of the day. Just as a snowball compounds and grows, so can your wealth.
Back to Albert EinsteinWith such potential for astronomical growth, it’s no wonder Albert Einstein called the power of compound interest the most powerful force in the universe. The problem though, is that there is substantial doubt he actually said that. If you are patient, and stick with your investments over time, you will almost always come out ahead. Authority figures, like professors who lecture without open discussion and politicians, don’t always deserve to be trusted. And from a consumer perspective, we have to resist the temptation to consider salespeople authority figures or experts.
Compounding interest separates the rich from the broke.
Have you ever wondered at what makes an avalanche so powerful? A force so massive actually starts from a very small place. Before an avalanche can smash trees and break legs, it needed to become a snowball first, and a piece of snow before that. This blog explains everyday economics and the Fed, while also spotlighting St. Louis Fed people and programs.
June Greg’s father deposited $6.11 into her account 98 years ago, when she was only two years old. My colleague Conrad deAenlle also wrote about this money in the bank. References continued to proliferate, but QI will stop the presentation here because the citations above provide a reasonable sample. One question I was asked at practically every stop was, “What’s the greatest invention of all time? ” I finally worked up an acceptable answer to this one, one I hoped would preserve my goal of presenting positive, optimistic views of science.
- He loved the idea that he and others could question authority without fear of reprisal.
- The young Einstein had no interest in this type of training to blindly worship authority.
- A small piece of snow becomes an avalanche by first becoming a snowball.
- Why can’t you take the 8th wonder of the world and do something great with it?
Inflation occurs when the prices of goods and services increase over time. The Federal Reserve’s “dual mandate” includes keeping prices stable, and monetary policymakers have equated price stability with a low, measured inflation rate targeted at 2% over the longer run. For what is the difference between vertical analysis and horizontal analysis an example of compound interest, let’s assume an 8% interest rate with a retirement age of 65.