The concept of compound interest, often hailed as the eighth wonder of the world, holds the key to unlocking the door to exponential wealth growth in the realm of long-term investing. Albert Einstein is famously quoted for his adulation of compound interest, and with good reason—the cumulative power it wields over your investments is nothing short of magic. Here, we explore how compound interest can become an investor's staunchest ally in their financial journey.
Understanding Compound Interest
At its core, compound interest is the process where the interest on your investment...