The Power of Compounding Interest
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@bigmoneyjby, I see. I still gotta agree with BrenttheGreat though -- it would be nice if more schools taught basic investment and money management skills. I think if more people could handle their budgets properly, we'd all be better off.
magicmindman 2 years ago
@magicmindman Never said it wasn't bad to get invested early. I'm just saying that once everyone does the same investment, the Future Value of that investment is gone.
bigmoneyjby 2 years ago
@bigmoneyjby, Inflation affects all investments. This doesn't negate the fact that it is best to start investing early if you want time and compounding interest on your side. Not everyone will choose the same investments.
magicmindman 2 years ago
@magicmindman If everyone creates money at the same rate, than that money created is not worth anything. The interest would simply be the rate of inflation.
bigmoneyjby 2 years ago
@bigmoneyjby, what about inflation?
magicmindman 2 years ago
@magicmindman Inflation.
bigmoneyjby 2 years ago
That could be true for many investment strategies, but it's not true for compound interest. Compound interest is more of a mathematical formula than a strategy.
magicmindman 2 years ago
@BrenttheGreat If everyone does it, then it doesn't work.
bigmoneyjby 2 years ago
I KNOW A WAY IF U ARE IN THE MILITARY SDP!
yellaonel 2 years ago
Because they want us to become salve to the wealthy people. Alot of people do not know how to save money and live check by check.
castillo183 2 years ago