Your best financial allies are compound interest and time. Today, let’s talk about both compound interest and time. If you want investing money, you may consider to know the effects of time and reinvesting.
Many people say they want to invest and get rich. Yes, they believe that if they invest they will get rich. However, they just plan for it, say it and after the day they didn’t start investing. That disease is called procrastination.
What is Procrastination? Procrastination is “delaying” or “putting things off tomorrow”. As the old saying goes, “what you should do today should be done today”.
We all know that if you want to accumulate money fast, all you need to do is to add your profits to your investment capital until you build a huge amount. In compound interest, it is very easy to accumulate money. This simply means, you are using your profit to increase your capital and at the same time increasing your next profit.
Wasting of Time
“Wasting of time is the most extravagant of all expenses”. I agree with that statement. I don’t remember who said it. In investing, most successful investors value their time. They don’t want to waste time.
Beginning today, you must have the “just do it” attitude. What is mean by “just do it attitude”.? If you want to achieve your dream, you must take action. Take action with careful planning.
Compound Interest and Time are Twins
Compound interest and time are twins. They are your best financial allies. They both favor the young investors. If you start investing money so early you will have a high chance of becoming rich.
If you procrastinate, instead your retirement age is 50, you will retire at 65, worst is you will retire poor. While you are still young, take advantage of time and compound interest.