When you think about magic, what comes to mind? Usually or lets say rarely it won't involve thinking about compound growth ;). If it did send me a note and lets talk :)!
While magic for you may not condure up feelings of compound growth, let's talk about compound growth baby.
What is so magic about compound growth?
Let's tell a story to show you why compound growth is more magic than what you think. If you were given the option to take 1 million $ today or the option to receive 1 cent doubling each day for 30 days, which one would earn you more?
After 3 days if you took the 1 cent option you'd have 8 cents given to you, after 10 days you'd receive $10.24, after 20 days you would receive 10,485.75 (still better to have the million) however after 30 days you'd get 10,737,408 (or 10 times the amount of the million $). Which option would you pick now?
Perhaps compound growth can be magic then as it magnifies returns when reinvested. At the same time it works both ways, if you lose 10% the losses compound on top of each other as well so it is important to consider how you feel and seek advice about any investment you're considering.
What are your thoughts and experiences with compound growth? Hopefully it's been magic!
Did this help you? If so, please share!
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