Albert Einstein stated, "The most powerful force in the universe is compound interest." Being infinitely more brilliant than myself, Einstein knew that as simple of a concept compounding can be, applying it is extremely powerful.Let me illustrate an example. Let's pretend I have an offer for you. The first, a million dollars from my left pocket. The second, a shiny penny from my right; however, that penny will double each day for thirty days. Which would you prefer to have at the end of the month? The one million dollars or the doubling-a-day penny?Most of us would opt for the million and why not; that's a logical choice. Let's see how the numbers unfold.
Read the full article here:
http://www.walletpop.ca/blog/2011/05/24/the-magic-of-compound-interest/
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