4 ms·
It is a bad step as it is usually taught, though (that is, as and end goal itself rather than, for example, as a means to better investments). Any astute kid is
by sidlls 5y ago
It is a bad step as it is usually taught, though (that is, as and end goal itself rather than, for example, as a means to better investments). Any astute kid is going to look at the “compound interest” argument as laughable. It only works if there is sustained, substantial additional contributions over a lifetime. This is especially true for people in lower income brackets. Try convincing a kid with even modest arithmetic skills that saving $2 (or $20, or even $200) and letting it compound is “smart.”
- andai 5y agoBut $2 of BTC... ;)
- arcticbull 5y agoAnd what, it's down, adjusted for inflation, 40% on a 1-year basis while the dollar is down 8.5%. Literally the worst inflation hedge. If you'd bought US Series I savings bonds you'd be dead flat in real dollar terms. That's an inflation hedge. Lord help you if you bought NFTs of Tweets.
- deleted 5y ago[deleted]
- klyrs 5y ago> It only works if there is sustained, substantial additional contributions over a lifetime. That's literally how I was taught about compound interest: saving money means making weekly/monthly/annual contributions. And that was a regular (non-honors) class in an inner-city middle school. > Try convincing a kid with even modest arithmetic skills that saving $2 and letting it compound is “smart.” No, that's idiotic. I think you're beating on a straw man.