This is a fun read, It starts by showing the compound interest nature of making money and ends with how conservative the actual author is in his investments. Hence underlying the fact that what one does with their money depends on their level of risk taking.
- Examples: He gives example of how Warren Buffet major earnings came after 65, so money may grow slowly. He also give the example of another entrepreneur who earned at a much faster rate but started later. And if he started with Warren Buffet did, extrapolating, he would have earned trillions of dollars!
- Having Money Is All About Options: If you have money in your bank, that does not mean you spend it all. Money can give security and options that can make for a richer and secure life.
- Being Wealthy Vs Being Rich: Someone with enough money is wealthy. A person who shows off his money is rich. Now if one is rich, he is probably spending a lot of money, so that he appears rich, but his bank account is mostly vacant!
- Compounding: The example of the 5 ice ages, and how that happened because of slightly less warmer summers and hence the snow did not melt and over years, it just built a snow capped earth, was a great metaphor to show how compounding works. On this account, he gives the example of a Janitor who people think is poor, but had millions of dollars in his bank account!
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