The Power of Compound Interest

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Popular finance books say if you save this a little amount at age 20 the power of compound interest translates to this right. And so you're kind of having this more luxurious life in your 40s and your 20s. But academic models actually take that into account to take the power of Compound Interest into account. Most economic models wouldn't say that you should have exactly the same standard living in your 20s in your40s.

Are Christians called to navigate their finances differently from everyone else? Are the oft-repeated directives to save aggressively and avoid all debt either scriptural or wise? Is it possible that spiritual wisdom and practical wisdom are sometimes one and the same? Join David and Curtis in this excellent discussion with James Choi, Professor of Finance at Yale. As a Christian and a behavioral economist, James brings both spiritual and practical wisdom to the area of personal finance and exposes where some of our most popular financial gurus might be giving us poor advice.

Show Notes:

-Derek Thompson (The Atlantic) - All the Personal-Finance Books Are Wrong

-Greg Rosalsky (Planet Money) - An economist studied popular finance tips. Some might be leading you astray

-Why I am a Christian (James Choi)

Follow Curtis’ work at RedeemingBabel.org

Produced by Kris Carter