Compounding interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it. Compound interest is the most powerful force in the universe.- Albert Einstein.
Despite my track record, this is a real quote. It teaches us a few things. 1) Albert Einstein was clearly a little sexist- women can compound interest too. 2) He was clearly prone to exaggeration-Really? Compounding interest is more powerful than anything in the universe? Oh I’m sorry…black holes. Slap. Really, Albert. 3) Understanding compounding interest is important. Continue reading “Debt, Compounding Interest, and $50,000 Truck”
