Work Your Assets – How to buy all of Manhattan!
Take Einstein’s Advice
Our only point here is to encourage you to get the best savings rates for your cash balances. With the best interest rates, you can harness the power of Compound Interest. Now, over to you Einstein:
“Compound interest is the eighth wonder of the world. He who understands it earns it; he who doesn’t, pays it” – Albert Einstein. (FYI, I’d probably today change the pronouns in that quote, but it’s not up to me to edit Einstein).
So, unleash the power of your money. In the world of business, it’s not just about how hard you work, but how smartly you let your assets work for you. Every pound and every penny has potential. The question is: are you harnessing it?
Here’s how you can buy Manhattan
Let’s take a trip back in time to 1626. Manhattan, one of the most iconic and valuable pieces of real estate today, was once purchased for a mere $24. We think that indigenous people sold the whole island for $24 worth of trinkets. A laughable sum by today’s standards, right? But here’s where the story takes a twist.
If, instead of buying that land, someone had invested that $24 at a mere 6.3% annual interest rate (compounded and paid monthly), then today they’d be sitting on a staggering $1.8 trillion. Yes, trillion with a ‘t’.
To put that in perspective, that’s also the estimated total land value of Manhattan in 2018! Essentially, with the right investment strategy, you could buy back all of Manhattan today with the same $24 received way back in 1626. This has come from a Bloomberg article in 2018 which reported a study finding that the combined value of the buildable land in Manhattan in 2018 is about £1.8trillion aggregated.
As you would expect from an accountant, yes, I did the maths on the compound interest, and have a robust spreadsheet to prove it too!
This isn’t just a fun historical anecdote; it’s a testament to the relentless power of compound interest. Your money can work harder than you think, and often, much harder than you do!
Work those Assets
As a growing business, every decision you make has long-term implications. The choice of where and how to put your money to work is no different. Ensure you’re getting the highest interest rates, especially in this higher interest rate environment. Don’t let your assets sit idle. Work them, grow them, and let them pave the way for your business’s future.
Let Us Guide You
Understanding your numbers is the first step to unlocking the potential of your assets. With the right guidance, your business can thrive beyond your wildest dreams.
Ready to make your money work as hard as you do? Reach out to us today. Let’s ensure you’re not just counting your money, but making every single bit count.
There you have it. The power of compound interest is undeniable. Whether you’re just starting or looking to take your business to the next level, remember that it’s not about how much you have, but how smartly you use it. Work your assets, and watch them work wonders for you.