Compound Interest

Many think that a savings account is compound interest and that their IRA is also the same way. But wait, there are other ways of generating compound interest. Behold, one way interest can be built is through a small idea called compound wealth. This is a idea that connects all of ones wealth. Here’s how it works: by adding like items, like a stamp collection and adding a baseball card collection, it compounds the worth by generating wealth that was not there in the first place. Perhaps another way this might be illustrated is with books. One book has information about real estate and another book has instruction on how a start a business, the knowledge found in both books compound into useful knowledge that generates interest. So, one can use the knowledge of both to start a real estate business. By reading more books, that knowledge compounds too. Other books that might be of interest might be flipping houses, history on houses in a certain city, or real estate law. All of these are good avenues to pursue but there is more. Doing a thorough search of what one owns can be a good task for a weekend project. One could have an appraiser come and price things out or they could ball park the worth too. It would be a loss if the value of wealth is not stated. Wealth can be a very arbitrary and a price is hard to set. There are two ways this can be done. The first is by taking the item to a shop and having them look at it. They will give you a price. The second is the personal worth that it may have. Like a old rocking chair. It may be worth two hundred dollars on the antiques market but it may be the one that a grandfather used to read his books on and tell stories. The price of that rocking chair is way more than anything one can offer. Perhaps this too can be a source of compound wealth too. Just make sure that at a certain point, one will find that the value doesn’t matter in the first place.

3 thoughts on “Compound Interest

  1. Heel Pain

    I’m not sure where you are getting your information, but great topic.
    I needs to spend some time learning more or understanding more.
    Thanks for great info I was looking for this info for my

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