More on Compound Interest
Below is more thinking and sources on compound interest.
Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t pays it.
Did Albert Einstein say it? No one knows for certain. What we do know is it is a crucial principle kids should become thoroughly familiar with, especially those want to make big dreams come true!
1. Warren Buffet, Investor
…Buffett thought he could get rich on compound interest…
Business Insider: Warren Buffett – When I started, I only had $9,800
Julian Livy: Warren Buffet Secrets – The compounding factor
2. Paul Merriman, columnist Marketwatch
…There is only one way to make your kid rich for $1 a day – leverage compound interest…
Make your kid rich for $1 a day
3. Stephen Moore, economic writer, via the CATO Institute
…the best children’s program that Washington could possibly devise is one that allows Americans to build up wealth for their own children and grandchildren…
Tapping the power of compound interest
4. Daily Finance, website on money
…Compound interest is what will make you rich. It takes time…
If you only know five things about investing, make it these
5. Morningstar, Investment research and management
…The great part about compound interest is …it helps us achieve our financial goals…*
The magic of compounding
Exploit the magic of compounding
*I would add – it does not discriminate. It works for anyone who employs it.
6. Broke Millennial, Blog
…Compound interest is proof of the proverb money begets money…
An impassioned plea for understanding compound interest
7. Lions Bridge Financial, Financial Advisors
…harness the power of compound interest…
The power of compound interest (video)
8. Sam X Renick, author, entrepreneur, financial educator, champion of great money and reading habits
…Whoever came up with the saying “money does not grow on trees” should be fired. I assume they either didn’t read or agree with Benjamin Franklin who said, “money is of a prolific generating nature”…
The compound interest clock – The one lesson every kid should learn
How to teach kids about compound interest
Invitation
We invite you to share with us some of your favorite strategies for teaching kids compound interest and great money habits.
Additional Resources and Reading
Asset Funders Network: Strategic Philanthropy – Integrating Investment in Asset Building: A Framework for Impact