Mint Founder Aaron Patzer shares his money lessons. Delightful read!
“Most people who are rich are not rich because they have flashy careers,” Patzer said. “They are rich because they were very methodical about their saving.”
Patzer got into a “saving” mode at a very young age, when his father introduced him to the wonders of interest compounding. Finding out that money, when left to earn interest long-term, can grow exponentially because interest earns interest, which then goes on to earn interest and so forth, Patzer had calculated that if he saved his allowance, he could have $65 billion by the time he retired. (His giddy bubble was burst soon thereafter, however, when his father also introduced the concepts of taxes and inflation. Oh well.)
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