Knowledge Drop: The most powerful force in finance
Most people don’t know what compound interest is, and even fewer know about the Rule of 72. This is why saving your money is critical to your financial future and why, as compulsive/conspicuous consumers, Black people in America have made no significant economic progress relative to other ethnic groups since Reconstruction. Compound interest is your friend and next to significant liquidity events (e.g. selling an internet start up for millions) the most powerful economic force to build wealth in our community.
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