Depreciation handy when used-car shopping Jun 18, 2008
Einstein may have been right when he said that compound interest is the most powerful force in the universe, but depreciation runs a strong second when buying a used car. With gas prices hovering around $4 a gallon, consumers are giving used cars a closer look, and with good reason. (MSNBC -- Business)
Before You Commit To Credit Cards Jun 17, 2008
Just as compound interest is your best friend when you're saving money, it's your worst enemy when you owe money. If you can't afford to pay your credit card bill, little fees for things like late payments and going over your credit limit--not to mention interest itself--will cause your balance to balloon. (Forbes)
REVERSE MORTGAGE DRUMBEATS / Jun 16, 2008
Better yet, many programs charge simple rather than compound interest, so interest isn't charged on interest. Some even forgive part or all of the loan if the borrower remains in the house for a specified period of time. (San Francisco Chronicle)
Cruz: Don’t invest enough in stocks to provoke loss of sleep Jun 15, 2008
Q: I was very interested in your articles about Roth IRAs and compound interest, and want to start to invest. Do I just ask for a Roth IRA that pays compound interest ... A: They may understand you at a bank, where you can get a CD that pays compound interest as part of a Roth IRA. Investment firms may not know what you mean, although they, too, offer what you want. (Scranton Times, PA)
If you don't understand the investment, don't put money in until you do Jun 7, 2008
Q. Do I just ask for a Roth IRA that pays compound interest. A. At a bank you can get a CD that pays compound interest as part of a Roth IRA. Investment firms may not know what you mean, although they too offer what you want ... Compound interest may be more appropriately called "compound earnings." It means the money your investments earn - interest, dividends, or capital gains - can earn more money. (Boston Globe)
Oneida land claim case goes before federal appeals court Jun 3, 2008
With compound interest over two centuries, that is worth 500 million today, Peter Carmen, one of the tribe's attorneys, said Monday. At the time, Kahn said he had no choice but to reject the Oneidas' claim to possession of the land after two higher court decisions. (Auburn Citizen, NY)
Euler's Mathematical Contributions Jun 2, 2008
It is an irrational number (meaning that it has no exact value, much like pi and can continue to be written forever), and while no one is exactly sure why, it is incredibly useful in describing a great many real-world phenomena, such as the continuous growth of compound interest and other exponential functions. Number Theory. (Suite101.com)
Let our Money Mentors help: Wisdom earned and shared May 30, 2008
Best financial decision: Albert Einstein said, "The most amazing force in the universe is compound interest." I got out of the Navy in 1969 and went to work for DuPont. I started saving money the next year in a bank account, then eventually in a 401(k). (USA Today -- Money)
Best things in life...Is it possible to survive the day getting everything for free? May 29, 2008
When compound interest of 7% is taken into account, this would amount to a total of 8,648 over 10 years, 25,661 over 20 years and 59,127 over 30 years. If a 35-year-old were to put all the money they spend on coffee into their pension pot instead, at 65 they would receive 3,843 more in their pension every year for the rest of their life. (BBC News -- UK)
Islam and Investing May 29, 2008
(Some Muslims and banks interpret the law to permit simple interest, but not compound interest. . (MSNBC -- Business)
It's the economy, stupid.... May 28, 2008
Did they teach you about the magic of compound interest. For the record, the amount borrowed during WWII has been paid-off (with interest). (Atlanta Journal-Constitution -- Opinion)
TO-DO LIST: 7 ways for Gen Xers to help secure their retirement May 20, 2008
The reason it's better to begin saving now rather than later can be summed up in two words: compound interest. Through the magic of compounding, returns on savings are plowed back, accelerating the growth of principal. (USA Today -- Money)
LJL Funding Now Offers High Yield Income Fund Benefiting from Credit Crunch and High Rate of Foreclosures Nation-Wide May 18, 2008
Benefits of investing in a High Yield Income Fund include diversification, investment performance (past performance does not guarantee future results), being fully invested and compound interest ... Benefits of investing in the High Yield Income Fund (trust deed investments) include: * Diversification - your investment risk is spread over multiple loans * Investment Performance - anticipated high yields (10% +, but past performance does not guarantee future results) * Fully Invested - your... (Yahoo News -- Press Releases)
Obama, McCain: Mushy middle? May 13, 2008
the dollar is doomed, our domestic oil reserves have been drained, and our workers only understand compound interest. our economy has for the last decade at least been based on manipulating green paper, and that green paper is rapidly becoming worthless Fall Hammer, Fall. (Atlanta Journal-Constitution)
Don't do anything stupid May 12, 2008
If you re that cheapskate I just described, chances are you ve already discovered the magic of one of humanity s greatest discoveries, the power of compound interest. The fact is that money wisely invested can double itself every 10 years or less. (Orangeburg Times and Democrat, SC)
American might: Children of the 'huddled masses' May 10, 2008
" True, but let's play another game, that of compound interest. China's (nominal) GDP is about $3 trillion, while America's is $14 trillion. Assume indefinite Chinese growth of 7 percent. That will double GDP to $6 trillion in 10 years and double it again to $12 trillion by 2028. Assume now that the United States will grow at its historical rate of 3.5 percent. By 2028, GDP will measure $28 trillion. American output would still be about one-quarter of the world total, the average for the past... (International Herald Tribune -- Arts)
Stricter credit card rules a good idea May 8, 2008
The average high school student, for example, cant balance a checkbook or explain compound interest. Simply understanding the latter term would keep many a college student and young adult out of financial trouble. (Carlisle Sentinel, PA)
Retirement seminars offer farewells with foresight May 4, 2008
Mr. Diamond understands why employers are concerned about liability, so they need to look out for good financial educators who simply offer general information about, say, how to build a retirement plan or how compound interest works. If you can see them in action with another group before hiring them, all the better. (Globe and Mail)
McCain Veepstakes: Running with Ryan? May 3, 2008
It s good because the power of compound interest is harnessed on behalf of the individual. It s also good for political and philosophical reasons, because people become more independent. (Human Events Online)
THE REBEL: Social Security personalize it! May 2, 2008
Its foundation should be in what Einstein called the miracle of compound interest and long-term investment ... For Social Security to not use the power of American ingenuity, business, and compound interest is nothing short of absurd; and any insurance system not using the greatest number of people in the risk pool is, likewise, ludicrous. (Hingham Journal, MA)
The Secrets of Top Hedge Fund Performance May 2, 2008
Through the miracle of compound interest, $57 billion of $62 billion of Buffett's wealth would have been the property of Buffett the "investment manager" and only $5 billion would have gone to Buffett "the investor." The effect of compounding at 14% (the returns after fees), rather than at 20% (Buffett's long-term investment track record), is to reduce the accumulated pot by more than 90. The Secrets of Top Hedge Fund Performance: How They Did It. (Human Events Online)
Never too soon to retire May 2, 2008
Once in super, the earnings are taxed at only 15 per cent. That gives you the benefit of years of compound interest (and dividends) to build a nest egg. REWARDING CO-HABITATION. (Sydney Morning Herald -- Business)
Beware the super villains May 2, 2008
Brown's client signed over the money to her relative leaving her with a debt that was accumulating compound interest at a fast rate on her major asset. "When I discovered this, I approached the lender asking them what steps they had taken to verify that this woman was capable of understanding what she was doing," he says. (Sydney Morning Herald -- Business)
Prius Isn't the Cheapest Way to Cut Energy Bills Apr 21, 2008
That's the miracle of compound interest -- if you keep your savings invested. Can you wait two years and invest those deferred payments. (Bloomberg -- Columnists)
Confounded by compound interest? You're not the only one Apr 19, 2008
Confounded by compound interest ... Confounded by compound interest ... A compound interest lesson is important and worth repeating. (Boston Globe)
Is now the time to take equity out of your house? Apr 16, 2008
" Many homeowners are relying on rising real estate values to help fund their retirement, but the stark reality is that many of them have saved so little that they may need to tap into their home equity for big-ticket buying, emergencies and investment capital. Advisers who advocate using home equity for investments say that one of the benefits is that the interest homeowners pay on the loans is simple interest, while the interest they earn is compound interest. "Even if the interest rate is the... (Pittsburgh Post-Gazette, PA)
Counting 100-year-olds can be tricky, even for Hallmark Apr 14, 2008
Estimates of centenarians are especially susceptible to changes in death rates; if fewer people die at each age, the number of projected survivors at each age grows like a bond with compound interest. Its very dicey, to be blunt, Frederick Hollmann, a Census demographer, says. (The Pantagraph newspaper)
Nest egg will be working when you aren't Apr 3, 2008
If you think about it, said Russell Canada president Irshaad Ahmad, it's just an extension of all the stuff we've been taught about compound interest all our lives. It's just that we haven't thought about post-retirement much. (Globe and Mail -- Business)
Inside The National Debt Control Room Apr 2, 2008
"Albert Einstein called compound interest one of the great wonders of the world. It adds up really fast," Wheelan said. "And I'm not sure we fully appreciate, either on the public or on the private level, how quickly you can get in borrowing trouble.". (CBS News)
New research shows that 60% of investment earnings can come after retirement Apr 2, 2008
"We all know the power of compound interest over time. But what really struck us about the research was the high percentage of retirement portfolio returns that could be generated after retirement," says Ahmad. "That's why it is important to remain invested in some allocation to equities during your retirement years. You need to continue to grow your portfolio to protect against inflation and rising costs such as health care. Keep in mind that it's not the end of the investment journey when you... (Canada Newswire)
Ideas on improving high schools? Apr 2, 2008
They need to get away from the traditional courses which are boring, and get to some more relevant ones, sunch as Arithmetic for hte Poor that explains monthly payments, compound interest, and credit card debt to people who are caught up in those webs. Or Safe Sex with Many People and The Benefits and Problems of Being Pregnant before 18 and How to Buy a Car or How to Rent an Apartment or How to Apply for a Job or How to figure out an Income Tax Form or How to Work with the State Welfare system. (Atlanta Journal-Constitution)
Important Mathematical Constants Apr 1, 2008
It is the key, in fact, to such common mathematical problems as calculating compound interest - an important tool in the financial world. The Golden Ratio. (Suite101.com)
Letters for Tuesday, March 25, 2008 Mar 26, 2008
When they had the chance to use tried market forces, i.e. compound interest. they passed, so they could spend. (North County Times)
What not to do with your money Mar 21, 2008
Of course, this will be limiting your ability to make money with compound interest, but it may fatten your paycheck by a hundred dollars or so. You may also consider taking out a home equity line of credit, even though the credit crunch has made it harder to qualify. (CNN)
At 75, She Has The Cash Numbers Mar 21, 2008
"The solution is impressing compound interest on kids," she said. "No start is too small, but you have to start!". (Investors Business Daily)
Rotary News: Whatever happened to the Greater Georgetown Rotary Club? Mar 20, 2008
Now that s compound interest. We aren t done yet. (Georgetown Record, MA)
Rev mortgages new sales down 10pc Mar 19, 2008
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Facts of the Matter Mar 17, 2008
Borrowers misunderstand compound interest and amortization. Pseudoscience persuasively but incorrectly presents convincing numbers out of context. (Honolulu Star-Bulletin)
Local woman out of money and, increasingly, out of luck Mar 15, 2008
Your taxes will be lower and, over time, compound interest and your contributions will start to add up. 5. (The St. Augustine Record)
Timing OK for raise? Mar 15, 2008
wdsjr wrote on Mar 14, 2008 10:14 PM:" Apparently, Mr Hood has never heard of compound interest. Also, would back pay for all who have served since 1991 be in order? ". WY wrote on Mar 14, 2008 9:58 PM:" WEll I want to know why the heck they went to Disneyland? That was such and expensive trip for me and mine. Are they CONSULTING Walt in some new TEA CUP RIDE???!! ". (Lodi News Sentinel, CA)
Feb. 28: Our Readers Write Mar 2, 2008
Take advantage of the magic of compound interest by putting some money aside now and letting it build. But don t skip the final step. (News Enterprise Online)
The 'magic' of compounding is what makes retirement savings grow so much Mar 1, 2008
Georgina and I got started by automatically depositing $100 a month into a mutual fund, increasing the amount regularly as our finances improved and watching our balance grow, thanks to compound interest ... "Most people underestimate the power of compound interest.". (Boston Globe)
Reduce Your Debts Mar 1, 2008
Beware Compound Interest ... For example, compound interest means that five percent interest on a tiny loan such as 100, if not paid back quickly, can increase sixfold. (Suite101.com)
Great savings incentive or just a new way for rich to profit? Feb 29, 2008
"Over time it will be very significant ... it's the miracle of compound interest, tax-free," said Flaherty. However, some aren't overjoyed with the introduction of tax-free savings accounts. (Toronto Star)
Portfolio management translates into managing risk to prevent loss Feb 28, 2008
Worse, many are levied up front, so their impact on returns is compounded over time, much like a form of negative compound interest. My advice: Minimize costs. (Columbus Business First, OH)
Ottawas new savings grace raising questions Feb 28, 2008
Each year, they can add more money to the account, accumulating compound interest, and any interest earned in the account is never taxable. MacPhee said that is because the tax has already been paid on the initial investment when people figure out their annual income tax return. (Cape Breton Post)
America Saves’ targets consumers Feb 25, 2008
Educators can talk about automatic deposits and the power of compound interest ... And that money can benefit from compound interest: just 50 a month, invested at a yield of 5 percent, will turn into more than 76,000 over 40 years. (Corvallis Gazette Times, OR)
Habits for Wealth: Dump Your Debt Habit Feb 22, 2008
Legend has it that Albert Einstein once called compound interest the most powerful force in the universe. Compound interest is the engine that can turn even meager savings into a nice nest egg over time. (MSNBC -- Business)
Reverse mortgages a growing concern Feb 2, 2008
The younger you are when you take out a reverse mortgage, the longer compound interest will grow, and the more you will owe. On the other hand, due to high upfront costs, these loans can be especially costly if you sell and move just a few years after taking one out. (Atlanta Journal-Constitution -- Business)
Letters from readers Feb 2, 2008
If the city was a good steward of our money, invested at 5 percent interest, the compound interest on the $190 million would be $230 million or $235 million by now. So, how much is in the dedicated courthouse fund. (Florida Times-Union)
Fighting crime Jan 26, 2008
Mr. Aos stressed that relatively small measures acted like compound interest, yielding excellent results over time. Or, as Sen. (Anchorage Daily News)
Elected officials are skilled ---- at getting elected Jan 25, 2008
According to my overworked calculator, in 12 months, through the magic of compound interest, that rate would have turned the 100,000,000 into 219,136,220,000,000. That incomprehensible number is more than 219 trillion. (North County Times)
Viewpoint: We need a plan for success Jan 25, 2008
A bit of simple math (similar to figuring compound interest) tells us that over a 60-year period, consumption would grow tenfold. In fact, the true number has peaked at about 9 times the post World War II rate of consumption. (Danvers Herald, MA)
Paying students to learn Jan 23, 2008
He quickly taught them about compound interest, discount rates, and how 0% interest really is not. In other news, Aaron Rents filed for bankruptcy, citing an unexplained downturn in the pay by the week programs. (Atlanta Journal-Constitution)
LeDuc: Let's teach financial literacy Jan 17, 2008
Areas that this curriculum would cover include, but are not limited to: understanding personal budgeting, savings, compound interest rates, taxation, residential real estate, consumer spending, retirement planning, educational savings, personal insurance needs, estate planning, stocks and bonds, and understanding borrowing ... Our students are graduating from high school without knowing what debt can do to them or what compound interest can do for them. (Marlborough Enterprise, MA)
The earlier the better Jan 11, 2008
Chances are you're going to live for 30 or 40 more years, so you still have a chance if you plan wisely for compound interest to work for you. Posted. (USA Today -- Money)
Charting your way into a career you really want Jan 6, 2008
If you struggle with percentages or the concept of compound interest flummoxes you, a career in high finance is probably not your best bet no matter how deeply passionate you are in making a lot of money. Investigate jobs you think would suit you. (Los Angeles Times)
The ABCs of financial literacy and No Child Left Behind Jan 1, 2008
Albert Einstein famously called the concept of compound interest a miracle. Thousands of students would undoubtedly agree with him if they knew how much it could make their money grow. (Pittsburgh Post-Gazette, PA)
How to save $10,000 on your current income Dec 21, 2007
Don't forget if you, um, save the savings, compound interest will kick in. Saving $10 a week and investing it in a balanced fund earning 9 per cent a year would grow to $7289 after 10 years, MLC calculates. (Sydney Morning Herald -- Business)
Time to lock up year-end savings Dec 13, 2007
But you can delay paying them and allow compound interest to work its magic on before-tax income by contributing the maximum amount to 401(k)s, said Tom Crowley, a vice president and senior wealth planner at PNC Financial. The maximum contribution for 401(k)s is $15,500 and $4,000 for IRAs unless the taxpayer is at least age 50, at which he or she can contribute $5,000 to their IRA. Retirement plan contributions reduce a person's taxable income by that amount. (Pittsburgh Post-Gazette, PA)
High school math Dec 12, 2007
Many Americans have become slothful about saving money and have not learned about the power of compound interest. Math is a universal language that transcends nationalities and levels playing fields. (Sierra Vista Herald, AZ)
Feds find that disabilities are declining among elderly Dec 11, 2007
But if it does, he said, "It's like the reverse of compound interest. You could end up with a flat number -- not a flat percentage -- of disabled elderly between 1990 and 2030, despite a huge increase in the size of the elderly population.". Already, the decline has put to rest fears that greater longevity would mean only more years in pain. (Modesto Bee, CA)
C-PP votes to expand curriculum Dec 6, 2007
jule's wrote on Dec 6, 2007 7:45 AM:" Get real-mandarin chinese and forensics are not advancing the education of our children. Teach them instead about the downfalls of credit cards, how compound interest works, how to balance a checkbook,etc. Prepare them for the real world and quit wasting our money. The school district is starting to smell like the Federal Government with it's Pork programs ". Name. (Corning Leader, NY)
ASIC warns on reverse mortgages Dec 5, 2007
ASIC says 14 borrowers didn't know how much their loan would cost over time, six didn't understand how compound interest worked and more than half were unaware of what would happen if they breached a loan condition. The regulator found that while most borrowers were satisfied with their loans so far, they hadn't been told the full story. (Sydney Morning Herald -- Business)
Primary Residential Mortgage, Inc. Reaches 5-Year Milestone in Englewood, Colorado Nov 30, 2007
As a Missed Fortune Associate he designs and implements True Wealth Transformation/Asset Optimization Plans, similar to those used by the affluent for years, aimed at utilizing arbitrage, compound interest, leverage, and tax efficiencies to safely and conservatively build wealth within a Roth-like product that grows tax free, is accessible tax free, and blossoms at death income-tax-free. Prior to joining PRMI, Spierings was the Vice President of Operations, Finance, and Service Quality at... (PR Newswire)
