Ever wonder how is it that an average folk with below-average education and income can accumulate a small fortune? I suppose you know it. Well, the secret to building a fortune is compounding interest.
Webster's defines compound interest as "the interest paid on both the principal and the accumulated unpaid interest." The keyword here is "accumulated". If the principal or interest is spent instead of reinvested, the power of compounding is diminished.
Also known as the "doubling concept", compounding has created more fortunes than any other single investment vehicle in history.
With compounding, your money is working for you, even when you are not working.
What I have learned is that the well-renowned Albert Einstein [the man who knew a thing or two about mathematics] went so far as to call "compounding" the "8th wonder of the world".
Indeed, compounding is the wealth creation principle that drives Wall Street and the banking industry.
So folks, start saving with whatever amount that you are comfortable with, if you have not done so.
If you want to know how you can saving through in life insurance program, please feel free to drop me a note.
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