Or gratitude at home.
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I taught my 3 children the power of compounding interest with a spreadsheet showing what $25 a month starting at age 25 would be at age 60. Sadly only our daughter caught on and is well on her way to retiring early!
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I was taught in my HS Economics class. That was back in 1965. I received a college education in High School. Arts Language Civics Economics & Gym
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Average savings account APR is 0.1%. Open a savings account on your 21st birthday with $100. When you're ready to retire at 65, that $100 will be $104.50 (assuming they let you round up the $0.4959 to $0.50). This doesn't account for the taxation on the interest earned.
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Yes it would dry up the money flow in society and cause economic poverty to many, it's called currency because it is suppose to flow through people's hands like a River flows. Hording money stops the flow
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I still don’t understand taxes but I do understand that x = (-b +- sqrt(b^2 -4ac)) / 2a and you can’t imagine how helpful that formula has been in the real world
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Ever read the "Wealthy Barber" ? Thoughts?
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Time and compound interest - giving everyone the opportunity to be a millionaire
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