Have you ever thought about being a millionaire but then just laughed it off. I am going to show you the key to becoming a millionaire; compound interest.
$100 a month, that is all it takes. If you invest $100 a month for the next 40 years you will have invested $48,000 by the end of it. That is a lot of money.
But after 40 years of compound interest that $100 a month would be $1,176,477.25!!! (This calculation was done with the assumption of the market average over the last 75 years, 12%)
I think most people could plan to set aside $100 a month; but the problem is nobody is doing it.
Compound interest is your greatest friend or your greatest enemy. (By the way, that exponential growth works against you for your debt)
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