CHAPTER 18

Finances

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Compound Interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.

—Albert EinsteinTheoretical physicist

Introduction

Having a solid understanding of the basics of personal finances will play at least two important roles in your life. First, it will help you optimize the financial reward from the hard work and accomplishments of your career as your income grows. How you handle success, and your growth in income, will loom large over your lifetime. Second, it will play an enabling role to open you up to more experiences if you manage financial resources appropriately. If you spend ...

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