THE POWER OF COMPOUNDING

Here's a simple scenario that I love to use whenever I'm asked to explain how compounding works...

Would you rather be gifted $1 Million today, or one penny doubled every day for 30 days?

Most logical people can detect that it's a trick question, but blindly assuming that the penny doubled amounts to more than $1 Million after 30 days hardly illustrates the power behind the scenario.
To see the process written out will help you actually wrap your head around it.

 1 - $0.01
 2 - $0.02
 3 - $0.04
 4 - $0.08
 5 - $0.16
 6 - $0.32
 7 - $0.64
 8 - $1.28
 9 - $2.56
10- $5.12
11- $10.24
12- $20.48
13- $40.96
14- $81.92
15- $163.84
16- $327.68
17- $655.36
18- $1,310.72
19- $2,621.44
20- $5,242.88
21- $10,485.76
22- $20,972.52
23- $41,943.04
24- $83,886.08
25- $167,772.16
26- $335,544.32
27- $671,088.64
28- $1,342,177.28
29- $2,684,354.56
30- $5,368,709.12

There are a couple of really important observations to make about the process above. The first is this...

It doesn't matter how little you start with.

Whatever you have is enough to get started, stop waiting for the large nest egg to arrive before you invest. The second observation is this...

The length of time invested is the most important part of the whole process.

Notice how it seemed like nothing was happening for the first few days? It took all of seven days to even break the dollar mark, but then the power began to grow more and more rapidly.
Put the process to work in your imagination. Would you rather begin on the road to wealth at 20 years old or wait until your 45? What would that 25 years mean for your nest egg? It doesn't matter if you start with a couple hundred dollars, even less; Just get started!

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