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If you're in business and finance, then you already know about the miracle of compound interest. Take at least $50K of your money ($75K would be better) and pu
by Kaizyn 17y ago
If you're in business and finance, then you already know about the miracle of compound interest. Take at least $50K of your money ($75K would be better) and put it into any sort of interest-bearing account - stocks, bonds, government-backed securities, anything that pays a pretty good interest rate without being overly risky.
At 6% interest, your $50K makes you $1.6 million in 48 years. Considering that that interest rate is on the low end of the spectrum, you should be able to do much better. Just treat the money as if it isn't there, and you have a guaranteed retirement in the future when you'll need it. From there, you can simply take as many entrepreneurial risks during your productive career as you'd like w/o having to worry about catastrophic failure. Good luck!