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How to make it, spend it, and invest it

20 Jun 2019

Mastering Money 6/20/19

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Post by MoneyRadio Staff

High-level research points to the fact that investors often think their savings grow in a linear fashion. Test after test reveals that most people think in terms of simple interest, or average annual return, rather than geometric compounded returns. They have a bias toward ignoring the effects of compounding over time. The reality is that the richest people in the world got rich, and continue to GET rich, not overnight but through compounding steady gains—year over year over year–often piling up seven times more wealth than those chasing short term gains and market timing. Wealthy people let money come to them. They don’t chase after it. They position themselves well. Today we’ll review a Wall Street Journal report on the published findings of why so many people will never be rich. You don’t want to miss today’s show, MASTERING MONEY is on the air!!!

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