“The most powerful force in the universe is compound interest”
- Albert Einstein
“The best time to plant a tree is 20 years ago. The second best time is now.”
Everyone has seen examples of the remarkable power of compounding: how relatively modest amounts, invested at less than heroic rates of return, morph into miraculous sums, given enough time. At its core, harnessing this simple but compelling force is what investment success is all about. What does this mean to the average investor?
Start investing now. In the world of compound returns, time is your greatest ally.
Stay the course. Have the self-discipline to let your investment returns continue to compound.
Avoid unnecessary expenses. Even very small percentage decreases in your rate of investment return will dramatically detract from your final results after years of compounding.
You don’t need to make or invest a lot of money to become wealthy. You just need to be patient and consistent and let compounding work for you.