Cornerstone Ruminations: Favorite Financial Fact
Favorite Financial Fact
There is always time to improve and perfect one’s financial literacy. The financial world is big and full of rules, facts, and standards. It can be tricky to understand the language, but with the proper information and guidance, financial literacy is achievable for anyone. The world of investing and finance is based on hard numbers and undeniable facts. However, the truth of finances can sometimes be stranger than fiction. Below, each member of the CWMP has listed their favorite financial fact. What is yours?
Don – You might find it interesting that I have had the privilege of being on the floor of the New York Stock Exchange more than once. I continue to use The Rule of 72. The Rule of 72 - mathematically it is an easy way to determine how long it takes for your money to double in value at various interest rates.
Leslie – Several years ago this fact was shared with me, and I still find it helpful in today’s investment world . . . What is the difference between a BULL MARKET and a BEAR MARKET? A bear knocks you down when it attacks you – therefore, a down market – a bull throws you up in the air when it attacks you and therefore an up market.
Hailey – It took a whopping 76 years for the DOW to reach 1,000 points. After 1,000 points was reached, the longest time it took to reach another milestone was only 14 years.
Dee – Did you know to have an ad (Commercial) play at the Super bowl it costs millions of dollars? In fact, in the early 2000’s to have Doritos or Pepsi Cola Commercial play it costs them over 2.1 million dollars. Now that we are in 2023, the cost for a super bowl ad has gone up to 7 million dollars. That’s right the commercial that you watched that everyone is so excited to see cost each company 7 million dollars.
Jennifer – The Clemson University $2 bill tradition is one of my favorite visual examples of how much travel can impact on a local economy. During away games, Clemson fans routinely bring $2 bills stamped with tiger paws to spend to show just how positive their presence can be for the local economy. The tradition started in 1977 when Clemson traveled to Atlanta to play Georgia Tech.