Understand the power of saving and investing early from "summary" of The Simple Path to Wealth by Jl Collins
Ah, the power of saving and investing early. It is a concept that cannot be emphasized enough. Imagine two friends, John and Mary, who both start working at the age of 25. John decides to start saving and investing a portion of his income right away, while Mary thinks she has plenty of time and postpones it for another ten years. Fast forward to when they are both 65. John is sitting pretty with a sizable nest egg, thanks to the magic of compound interest working in his favor over the years. Mary, on the other hand, is scrambling to catch up, realizing the opportunity she missed by not starting earlier. The key is to understand that time is your biggest ally when it comes to building wealth through saving and investing. The earlier you start, the more time your ...
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