Compound interest

Compound interest

Compound Interest is the 8th Wonder of the World

Those who understand it, EARN IT, Those who don’t, PAY IT !" - Albert Einstein

In the Rule of 72 we can see how long it will take to double our investments, depending on the interest rate. Now, let’s see if you get the concept.

If you were given the choice of:

1.) One million dollars in silver

or

2.) One penny that you would double every day for a month (30 days) and keep all the change after day 30……

Which would you pick??

As we learned in the Rule of 72, the longer time you have, the more time your money has to double/compound. As we get older, we simply run out of time. So, it’s better to start Early like Curley, Instead of Late like Nate!!