I’ve always enjoyed a story that I have often told about the power of compound interest and the Indians who sold Manhattan. I even wrote an article about the power of compound interest a couple of years back using the example I had found in an old shoe manual:
Inspiration is often found in the most unlikely places. I received my first lesson in the importance of compound interest and long term savings from a pair of training shoes I bought in high school. To emphasize the point that training a little bit every day could create vast improvements over time, the training manual used an example of the Native American Indians and pilgrims in the US.
In the early 1600s, the American Indians