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So, essentially: compound interest is something wealthy people are good at because it's useful when you are wealthy. Not because learning about compund interest
by truculent 7y ago
So, essentially: compound interest is something wealthy people are good at because it's useful when you are wealthy. Not because learning about compund interest will make you rich?
- cyborgx7 7y agoI find that most legitimization attempts for wealth end up being circular if followed to their logical conclusions.
- Amygaz 7y agoYes, it’s vastly easier even Buffet says so. He only started really using compounding has his core strategy when he already had his first billion (he was 60). Then his fortune doubled a few times in the space of 20 years. People can search YouTube for the interview.
- solipsism 7y agoFor the vast majority of people, the best thing they can spend time on to improve their financial situation is increasing their hourly wage or salary.