Page 5 - Compounding Interest News Today

I started when she was in kindergarten. i was very young when i had her. i did not know she was going to go on for her masters. i wasnt prepared for that. i did not know she was gonna want to go to law school. but when she told me about it, i just encouraged her. yes, okay, great. what do you need to do? - what marcellas daughter needed to do was take out a $46,000 loan. - im trying to work as hard as i can. because then after she finishes, its gonna be over $200,000. - wait a minute. marcella s...

But even with that, after four years of residency, im gonna basically be in $50,000 more debt. - ive talked to people where they say, ive been paying my student loans for years. ive been making all my payments. ive been doing it on time. and yet, i owe more now than i did at the beginning. what is that? - that is the phenomenon of compounding interest. - okay, lets stop here for a second, because compounding interest can be pretty tricky to understand. heres what you need to know. while most loa...

But then there are also, -- that are dealing with this. >> absolutely. ghost go both ways. and a couple different ways. one, is people who took out loans for their own education, ten, 20, 30 years ago whether it was for undergrad or grad school are still dealing with these horrible loans that have really high interest rates. this is compounding interest, if you missed a few payments they will compound your interest which basically means were paying interest on the interest. so these things out o...

Im gonna basically be in $50,000 more debt. - ive talked to people where they say, ive been paying my student loans for years. ive been making all my payments. ive been doing it on time. and yet, i owe more now than i did at the beginning. what is that? - that is the phenomenon of compounding interest. - okay, lets stop here for a second, because compounding interest can be pretty tricky to understand. heres what you need to know. while most loans make you pay a small amount of interest, compoun...

That. but it was immediately challenged by conservative opponents and they kept losing in court, does opponents. but they finally did find a judge who agreed with them. so now the biden ministration is appealing this and it is going to go to the supreme court next year. and i dont have to tell, you zinhle that you dont have to necessarily side of the administration to see the problem. >> and i just another takeaway. we see that this doesnt necessarily hit everyone the same way. you spoke to peop...

Dont learn how to do a budget. we dont learn how to do our taxes. we dont learn about credit scores. its incumbent on parents to teach their kids about this in the home. we dont have to be hard on ourselves but we canterbury our heads in the stand just because we didnt learn it in the past doesnt mean rescrew up our future. ainsley: 6% believe missing parents would increase credit score. 17 percent said missing payments could have no affect on their score. 36% have maxed out their cards. 45% did...

Percent. >> it is not the same people. oprah went from the bottom to the top. >> sure. >> so did sam walton. >> the product takes jobs. what did he create? it is what every one of us have in our pockets. we have a smart phone. wealthy people, poor people everybody has this. this is a great equalizer. capital of the one percent is going into products like this. why would you penalize that? >> i think there are serious problems with this book. one for example he says the rich automatically get ric...

But the kind of 10%, 10-year maximum that im suggesting i think would be a better solution. i think its very important to make sure that all students at the end of 10 years of full-time employment get rid of debt obligations. can compounding interest we have seen many students. say you graduate with a $26,000 debt. you actually through compounding the interest payments on the debt you end up paying $28,000, not just 10 years but 15 or 20 years. it is a huge burden for far too many students for f...

Student loan debt. with student loan debt you can defer payments like you dont have a job for example. credit card debt not as flexible. you might consider as far as the student loan debt goes extending that outgoing for a longer period so you can free up monthly cash to pay the credit card debt. >> thinking of college you are not thinking of retiechlt. >> you have to start as soon as possible you get the first job sign up for the 401 k you reduce tax liability saving for your future. matching 5...

Accumulation is robbing from our children that. scares me. >> our economic system money equals debt this, is the problem. people dont think about this, as lng as money equals debt were borrowing money from china to pursue the war with iraq were going to have more debt. the compounding interest on the debt is growing so go back to 1913 private ties money supply. put the debt on the government. weve got to take back article 1, section 8 gave the government power to be able to move the economy forw...