Sunday, September 2, 2007

One penny per second

Here's a different view on money: if you could find a way to earn just one penny every second, you'd be approaching the income of the top 1% of all Americans. Sound outlandish? The math is very simple:

$.01 X 60 seconds = $ 0.60 per minute
$.60 X 60 minutes = $ 36 per hour
$36 X 24 hours = $ 864 per day
$864 x 365 days = $ 315,360 annually

Of course, you simply can't work 24x7x365. But your money can. Compounding interest in the bank, money market fund, bond fund, and, at least on average, real estate, stocks and stock dividends are earned and collected around the clock!