This episode we discussed Joshua. He’s a fictitious 25 year old who started saving and investing right out of college. In discussing his scenario, we’ll be looking at risk aversion, the power of compounding interest, inflation and bank savings accounts.
For those of you who are interested in learning more about the inflation rate in the United States or how inflation might affect your savings and retirement, you can check out: inflationdata.com.
If you were hoping to hear more about the philanthropist who donated $2 million while never making more than $11/hr, we’ve included a link to the CBS video on youtube here. We don’t advocate being as extreme as he was in saving, but we do want you to see how much is possible with enough effort. If you earn more than he did, you wouldn’t have to save nearly as hard and you’d still be able to do as well as he did.
Remember, we’ve completely changed the format of the show, so let us know what you like, don’t like or what you think we could add to make the show more useful for you. Post your suggestions in the show notes or check out our contact information and either leave us a voicemail or an email.
For those of you on Twitter, you can follow David at Twitter.com/MOB_David. As interesting information comes up regarding finances, he’ll be posting tweets. Thanks for listening!