Tuesday, June 7, 2011

Albert Einstein - 8 wonder of the world

Albert Einstein was once asked what he thought was the greatest of mankind's discovery. His answer was: "compound interest" a.k.a "power of duplication" a.k.a "scalability". This is a very powerful theory that requires patience and discipline. If one was to follow this theory in managing his wealth, he shall receive tremendous reward after a certain time frame.

It's just like $1000 compound interest of 10% per month, after
  • 1 year: 3138.43
  • 2 year: 9849.73
  • 3 year: 30912.68 - see the growth
  • 4 year: 97017.23 - triple!
  • 5 year: 304481.64 - triple again!
This is how powerful compound interest is.
Moral of the story: INVEST when you are young

Do you know why richest people in the world are businessman and investor? Because they understand this theory... They don't exchange time for money.

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