Understand the power of compound interest from "summary" of Summary of Rich Dad Poor Dad by Readtrepreneur Publishing
Compound interest is a concept that can greatly benefit those who understand it and take advantage of it. It is the interest that is added to the principal sum of a loan or deposit, so that the added interest also earns interest from then on. This means that the interest you earn on your initial investment also earns interest, which in turn earns more interest, creating a snowball effect that can lead to significant growth over time. The power of compound interest lies in its ability to magnify your returns over time. By reinvesting the interest you earn, you can accelerate the growth of your investment exponentially. This is why it is crucial to start investing early and consistently, as the longer your money has to compound, the greater the impact will be....
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