#1 sign of financial illiteracy

[Harold O'brien]

thinking compound interest rates grow wealth exponentially. just keep saving and putting in your savings account and you will make millions!

 

[Deleted member 17829]

most people who read financial literacy books make no money to be financially literate with in the first place

 

[Harold O'brien]

most people who read financial literacy books make no money to be financially literate with in the first place

Legit, smart people read fiction.

 

[Chinacurry]

Compound interest does grow wealth exponentially, u just need 2 of the 3

Time
Large capital
High compound rate

Most people have none of the 3, some have 1, very few have 2.

Hence it irrelevant for most people lol.

 

[Deleted member 17791]

What do you think compound interest even is? It's exponential.

Just saving doesn't work anymore because interest rates are lower than inflation.

 

[Deleted member 3828]

Legit, smart people read fiction.

 

[Harold O'brien]

Compound interest does grow wealth exponentially, u just need 2 of the 3

Time
Large capital
High compound rate

Most people have none of the 3, some have 1, very few have 2.

Hence it irrelevant for most people lol.

High interest rates have maximum capital limits.

And with inflation your real wealth is barely growing, if not falling

 

[thereallegend]

with inflation your real wealth is barely growing, if not falling

true

 

[Prince charming]

High interest rates have maximum capital limits.

And with inflation your real wealth is barely growing, if not falling

Index funds?

 

[traveler]