The Power of Compounding
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein
Would you rather have a million dollars today, or a magic penny that doubles every day for 30 days?
The magic of compounding occurs in the later years.
Would you rather have the power of compounding working for you or against you?
Traditional IRAs and 401(k)s are infested with deferred taxes.