The markets...
I know some of my readers get a little bored with these posts.
But money can serve some very useful purposes. (Flash!)
According to one recent estimate, more than 50% of Americans owned financial intstruments, in pension plans, mutual funds, 401-Ks, Roths etc.
By borrowing against their net worth they can do wondrous things: Send their children to college, finance a home of their own, see to it that they and their loved ones get the very best medical care.
It's not just the money, stupid.
As noted here I believe that we are in the fairly early stages of what economist Wasilly Leontiff called "a long boom."
This can not only make rich people richer, but not-rich people richer.
This is beneficial to all.
Cautiously, if you can, get on board --- when you are young --- and stay in for the long haul.
Albert Einstein --- Time magzaine's Man of the Century --- it should have been Winston Churchill, I think --- reportedly said "compound interest is the greatest miracle in the universe."
I assume he did not count in The Big Bang --- whenever and wherever that took place, and in what space and time.
If you can --- go for it. Diversify. Never sell America short. Climb the Wall of Worry.
Of course, I am not a Registered Representative etc. etc. etc. --- but some of them are big jerks.
I have a fine combination going for me: My broker is quite cautious, I like taking some risks.
The Greeks, as usual, had a way to say it: "Moderation in all things."
Ben
But money can serve some very useful purposes. (Flash!)
According to one recent estimate, more than 50% of Americans owned financial intstruments, in pension plans, mutual funds, 401-Ks, Roths etc.
By borrowing against their net worth they can do wondrous things: Send their children to college, finance a home of their own, see to it that they and their loved ones get the very best medical care.
It's not just the money, stupid.
As noted here I believe that we are in the fairly early stages of what economist Wasilly Leontiff called "a long boom."
This can not only make rich people richer, but not-rich people richer.
This is beneficial to all.
Cautiously, if you can, get on board --- when you are young --- and stay in for the long haul.
Albert Einstein --- Time magzaine's Man of the Century --- it should have been Winston Churchill, I think --- reportedly said "compound interest is the greatest miracle in the universe."
I assume he did not count in The Big Bang --- whenever and wherever that took place, and in what space and time.
If you can --- go for it. Diversify. Never sell America short. Climb the Wall of Worry.
Of course, I am not a Registered Representative etc. etc. etc. --- but some of them are big jerks.
I have a fine combination going for me: My broker is quite cautious, I like taking some risks.
The Greeks, as usual, had a way to say it: "Moderation in all things."
Ben
posted by Ben Wattenberg at 1:12 PM
1 Comments:
You quote Albert Eistein as saying that "compound interest is the most powerful force in the universe." But there is no evidence that he ever said that. It is an apocryphal quote, I'm afraid. While it sounds good, and sounds like something Einstein might have said, it is not likely that he did.
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