Finance

If You Want to Get Rich, Trust in the Power of Compound Interest

If you're looking to double -- then triple -- your investments, look no further than compounding.
VIP Contributor
2 min read
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According to Entrepreneur Network partner Phil Town, compounding interest is seriously powerful. Compared to past saving methods like using CDs and money market accounts, compound interest bypasses the growth-killing handicaps low returns and modern inflation. Even historic genius Albert Einstein admitted he never fully figured out the mathematics of compounding -- which describes the concept of starting with very little initial capital and eventually having it increase to an astounding new value. 

Even if you can only invest a small percentage of your income every month, the benefits of time and compounding can reveal the long-term power of investing. 

Click on the video to hear more from Phil Town.

Related: 7 Habits to to Help You Make Smarter Money Decisions

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