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Understand the power of compounding interest from "summary" of A Sabedoria do Dinheiro by Roberto Navarro
The power of compounding interest is one of the most fundamental concepts in personal finance. It is the concept of earning interest on both your initial investment and the interest that has already been earned. This means that your money grows exponentially over time, as the interest you earn begins to generate its own interest. When you understand the power of compounding interest, you realize that the key to building wealth is not just saving money, but also allowing it to grow over time. Even small amounts invested consistently can grow into substantial sums thanks to compounding interest. This is why starting to invest early is so crucial - the longer your money has to compound, the greater the impact it can have on your wealth. ...
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