Embracing the concept of compounding interest from "summary" of Rule #1 by Phil Town
Compounding interest is a powerful force that can work wonders for your investments over time. It's like a snowball rolling down a hill, picking up more snow as it goes, getting bigger and bigger. The key is to start early, so you have more time for your money to grow. This means reinvesting your earnings instead of spending them. By doing this, you can accelerate the growth of your investments exponentially. Think of it as planting a seed that grows into a tree. The tree produces fruit, which then falls to the ground and grows into more trees. The process continues, and before you know it, you have a whole orchard. Compounding inter...
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