In popular imagination, Albert Einstein is supposed to have called compound interest as the eighth wonder of the world. He did not say any such thing. Nevertheless, compounding indeed is very beneficial for your financial health. This short post provides a few ways to visualize the effect of compounding. First, the formulae Simple interest is […]
In this long write-up, I discuss an engineering (methodical) approach to personal finance. I introduce the concept as growing wealthy using an engineering approach. I then describe the parts of the approach in some detail. A full presentation that follows this approach can be found below. This article previously appeared as: https://freefincal.com/growing-wealth-engineering-approach/ Introduction I use the title […]