The startling power of compound interest
Posted in The Meditations on Oct 16th, 2007 No Comments »
For our employees, we (Big Nerd Ranch, Inc.) have recently set up a 401K plan. I expected more people to enroll. I suspect that some people do not understand the power of compound interest.
Stock markets go up and down, but on average the market has paid about 10% per year. Historically, then, [...]