Compounding Interest separates the rich from the broke.
The great Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
When’s the last time you saw a high interest credit card balance move much lower after making a payment? When you get into high interest debt, you are now fighting against the inevitable force of compounding interest.
Why fight up a hill when you can instead run down it?
While everybody might know that interest is bad, only a few people decide to do something about it. And if I can be quite frank, it’s why broke people are broke and rich people are rich.
Nobody makes a real fortune overnight, and nobody goes broke in one night either. The exceptions to the rule regress back to where they should be over time. That’s why lottery winners oftentimes end up broke years later.
It’s the habits that you live with which define your wealth. If your spending habits cause you to fight against interest, you’re going to fight that fight the rest of your life. And sorry but, you’ll never be rich.
However, if your habits create interest for you, then just sit back and relax. You will one day be rich, you just have to let compounding interest do the work for you.
Compounding Interest can save our kids’ generation.
Let’s face it. Our generation isn’t very good at giving future generations a leg up in this world. It’s always been this way. I mean how big a mess has our parents’ generation left us?
It saddens me to see such disregard for the future. Everyday, we have people who live in a mindset of scarcity instead of abundance. People who are destroyers instead of creators. This isn’t the world I want my daughter to grow up in.
What if we lived in a world where everybody took responsibility for their finances? What if we all decided to kick our debt habits, and build wealth for our family and future generations?
If $5,000 a year can turn into $2.4 million in 40 years, imagine what it would do in 60. It would be $16,691,244, which is of course outlandish. Nobody has that kind of money to save for their kids. But what if we saved just a little bit for them. Like $500 a year. In 65 years, it could grow to $2,691,112.
What if we did this for our kids, and they did it for theirs? The wealth could compound, until the whole world was living with financial freedom. It starts with one person, but could later affect many.
Really, it starts with you. I’ve had a Compound Interest Calculator create so you can see for yourself the power of this magical principle.
If you want more wealth and abundance in this world, be the change. I believe in you, my future millionaire, because I know you can make a difference.
If you’ve been reading all the way through, you’re already better than 90% of the world. You CAN take the 8th wonder of the world and do something great with it! You can, compound your interest and life the life you desire.