The power of compounding: Get Richer Slowly

Does compounding rely on your investment returns? Oh YES! Your contributions count but it is the power of compounding that leads to a wealth snowball. Want proof? Just look at these numbers..

5 key ideas

What is Compounding?

Compounding is the process whereby interest is credited to an existing principal amount as well as to interest already paid. Compounding can thus be construed as interest on interest—the effect of which is to magnify returns to interest over time, the so-called "miracle of compounding." When banks or financial institutions credit compound interest, they will use a compounding period such as annual, monthly, or daily.

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