best way to accumilate power and/or wealth?

Question

what is the best way to do this in the modern world?

Answer 1

Compounding Interest! Saving money in interest bearing activities and keeping it there. Not just Savings Accounts, but Money Markets too. Also Equity investments like Real Estate or even Collectibles. Our Real Estate lost one year's growth recently, but we are still 6 figures up in value. Too many people see a reduction of Real Estate growth rate from 12% to 6% as a bust, but 6% growth in of the whole position measured against our real outlay (interest & principal paid to date) is better than anything else. As an example, if you make a down payment of $10,000.00 on a $200,000.00 property, make payments for 2 years ($40,000) and sell it with a 6% increase per year, your gain after 6% commission is paid is $11,236.80, or a 22.5% return from your total outlay of $50,000.00. In your 3rd year it goes up to $23,911.00 or 26% of outlay of $90,000.00. If you get a renter, your margin goes up to almost 240% from your original investment of $10,000.00. Of course some expenses still exist, but even at just 100%, double your money every 3 years for 15 years quickly turns $10,000.00 into $320,000.00! All of that using a 'bust' market figure of 6% and cutting your growth from a perfect world # of 240% down to 100%. If you never incur a single expense it could grow to $4.5 million in the same 15 years (240%). Reality lay in the middle somewhere, but I say it is a nice place to lay!

Compounding Intrest is your Friend! Good Luck!

Answer 2

get a job