To make compounding work for you: Start early. The younger you start, the more time compounding has to work in your favor, and the wealthier you can become. The next best thing to starting early is starting now. Make regular investments. Don’t be haphazard. Remain disciplined, and make saving for retirement a priority. Do whatever it takes to maximize your contributions. Correct your reports. Get hands on a free copy of your credit report to correct your serious mistakes. Be patient. Do not touch the money. Compounding only works if you allow your investment to grow. The results will seem slow at first, but persevere. Most of the magic of compounding returns comes at the very end. Compounding creates a snowball of money. At first your returns may seem small, but if you’re patient, they’ll become enormous.
Posted on: Sun, 17 Aug 2014 23:05:06 +0000
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