Many people will go all their life asking "What is the key to growing an enormous fortune?" There are many answers, earning a high salary, striking the lottery, setting up a successful enterprise. But there is one method that will allow you to grow your wealth to what may now be an unimaginable level. I'm not in the business of five-minute quick fixes and what-not, but compounding is a magic touch which can allow your portfolio to grow exponentially. But of course, as things go, compounding takes time to work its magic and good things come to those who wait.
Difference between not investing, getting simple interest and compound interest
(Image Source: http://ponderingmoney.com/2009/10/12/you-need-to-understand-compound-interest/)
What is compounding anyway? It seems like one of the buzzwords coming from the ever-so-fashionable financial sector, just like retirement and wealth management. Compounding is when the interest or return that you have earned is ......
