3396: [Part 2] How To Build A Compounding Machine by Barney of The Escape Artist on Long-Term Wealth cover art

3396: [Part 2] How To Build A Compounding Machine by Barney of The Escape Artist on Long-Term Wealth

3396: [Part 2] How To Build A Compounding Machine by Barney of The Escape Artist on Long-Term Wealth

Listen for free

View show details

About this listen

 Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3396: Barney illustrates how building wealth can be simple, even lazy, if you master the power of compounding. By focusing on high savings rates, starting early, and investing consistently in low-cost index funds, you can create a compounding machine that does most of the heavy lifting for you, no crystal ball or complex strategies required. Read along with the original article(s) here: https://theescapeartist.me/2019/11/09/how-to-build-a-compounding-machine/ Quotes to ponder: "At a 50% savings rate, you will go from broke to financially independent in about 18/19 years." "A 10% a year return from a stockmarket tracker fund achieved by a person with average intelligence beats a 2% return from a complex multi-asset approach achieved by someone who went to Harvard." "When it comes to predicting future returns, there are 2 types of people: 1) those that don’t know and 2) those that don’t know they don’t know." Episode references: S&P 500 historical returns: https://www.slickcharts.com/sp500/returns The Rule of 72: https://www.investopedia.com/terms/r/ruleof72.asp Learn more about your ad choices. Visit megaphone.fm/adchoices
No reviews yet
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.