Wednesday, June 18, 2008

Eighth Wonder of the World



Albert Einstein once said that the eighth wonder of the world is compound interest. He also says that it is the greatest mathematical discovery of all time!

The simplest way to riches is to save and invest. Save. Invest. Save. Invest. It might be boring but I'm sure you have heard of some old, uneducated ladies who have gotten rich just doing this. They beat some college professors with their sophisticated methods. Einstein was right.

$10 a day can grow into a million...

in 74 years with a time deposit rate of only 3%.
in 34 years with a good property investment rate of 10%.
in 20 years with a good stock market dividend and capital gains rate of 20%.

Our parents were right when they said, "Live on less than you earn. Invest the surplus. Avoid debt. Build long-term security." It is not the exciting get-rich-quick rabbit but the tortoise laughs slowly all the way to the bank. Einstein foresaw it.

The eighth wonder of the world is compound interest.

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