Here’s a cool fact I that read on Quora this week: Warren Buffett made 99% of his wealth after his 50th birthday.
At first, this doesn’t seem to make any sense: Warren Buffett started investing at the age of eleven, yet he essentially made almost all his wealth after the age of 50.
Were the first 39 years of his investing timeframe just a waste of time?
Nope!
The truth is, that’s how compound interest works. Compound interest grows your wealth at a maddeningly slow pace at first. Then it speeds up. And it goes faster and faster and faster.
Most people don’t get this. In a world where everyone wants to make money NOWNOWNOW, few investors can appreciate the power of the most powerful force in the world.
But for those who have the patience (and the guts) to stick it out, the odds are squarely in ...
