PICK ONE! $1,000,000 cold hard cash today OR a MAGIC PENNY that doubles everyday for a month???
How much do you think the magic penny would be worth by the end of the month?
If you picked Option 2, you’d have 10X more than Option 1 by the end of the month 😱
The magic penny clearly illustrates the power of compound interest and how important it is to build wealth and achieve financial freedom. The main thing is to:
1) start investing and take advantage of compound interest as soon as possible
2) don’t kill the goose! Keep your capital and earnings in there and let it keep compounding.
It also highlights how small amounts can add up significantly over time and something is better than nothing. For someone looking to achieve financial freedom, compound interest may be the most powerful tool available to do so.
With compound interest, timing and patience is everything. The earlier one starts, the more time the more time the money has to grow.
Did you know a magic penny could be so powerful? 😜