30 min listen
156-Applying Compound Interest To Your Goals: Lessons Learned From the Magic Doubling Penny
156-Applying Compound Interest To Your Goals: Lessons Learned From the Magic Doubling Penny
ratings:
Length:
59 minutes
Released:
Feb 24, 2015
Format:
Podcast episode
Description
Most of us have heard the example of the magic penny that doubles every day in value for a month. But, have you sat down and looked at that example to really understand what lessons you can apply to your own life?
Today, I share with you 5 lessons I've learned from that example:
1. Rate of return matters
2. Time matters
3. In the beginning, it's easy to spend. That's what most people do.
4. In the beginning, the amount you save matters more than the interest rate.
5. In the end, the interest rate matters more than the amount you save.
Enjoy the show!
Joshua
Links:
Support RPF: www.radicalpersonalfinance.com/patron
The Compound Effect by Darren Hardy
Today, I share with you 5 lessons I've learned from that example:
1. Rate of return matters
2. Time matters
3. In the beginning, it's easy to spend. That's what most people do.
4. In the beginning, the amount you save matters more than the interest rate.
5. In the end, the interest rate matters more than the amount you save.
Enjoy the show!
Joshua
Links:
Support RPF: www.radicalpersonalfinance.com/patron
The Compound Effect by Darren Hardy
Released:
Feb 24, 2015
Format:
Podcast episode
Titles in the series (100)
RPF 0001 – Welcome to the Radical Personal Finance Podcast!: A brief introduction to the Radical Personal Finance Podcast, its purpose and goals, and an introduction to your host, Joshua Sheats. by Radical Personal Finance