Economics » Financial Markets » How to Accumulate Personal Wealth

Key Concepts and Summary

Key Concepts and Summary

It is extremely difficult, even for financial professionals, to predict changes in future expectations and thus to choose the stocks whose price is going to rise in the future. Most Americans can accumulate considerable financial wealth if they follow two rules: complete significant additional education and training after graduating from high school and start saving money early in life.

Glossary

compound interest

an interest rate calculation on the principal plus the accumulated interest

simple interest

an interest rate calculation only on the principal amount

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