Compound interest is so powerful that Albert Einstein is said to have called it “the most powerful force in the universe.”
To sum things up, bad debt is borrowing money to buy liabilities while good debt is borrowing money to buy assets. This knowledge is one of the key factors that separate affluent individuals and everyone else.
“My thing is related to who I am as a person,” he says. “The clothes are an extension of me. The music is an extension of me. All my businesses are part of the culture, so I have to stay true to whatever I’m feeling at the time, whatever direction I’m heading in. And hopefully, everyone follows.”
Theodore Johnson worked his way up the newly formed USPS company in 1924. He was no prodigy or even an executive – Theodore worked in the personnel department. He never earned more than $14,000 a year, but he had a net worth of over $70 million.
Credits to Gary Vaynerchuk We are living through the greatest era of communication change since the printing press, […]
Warren Buffett and Charlie Munger explain the benefits of working with less capital during Berkshire Hathaway’s annual meeting […]
The best personal finance advice i’ve ever received is to save & invest your earned income, and only spend your passive income on luxuries. Let me explain…