How to Calculate Compound Interest in Hindi
Great Power of Compound
Power of Compounding in Mutual Fund
Power of Compounding eighth wonder of the world – albert einstein
Power of Compounding – Start Early
The Law of Compound Interest:
Investing your money carefully and allowing it to grow at compound interest will eventually make you rich.
Compound interest is considered one of the great miracles of all of human history and economics.
Albert Einstein described it as the most powerful force in our society.
When you let money accumulate at compound interest over a long enough period of time, it increases more than you can imagine.
You can use the Rule of 72 to determine how long it would take for
your money to double at any rate of interest.
You simply divide the interest
rate into the number 72. For example, if you were receiving eight- percent
interest on your investment, and you divided the number 72 by eight, you would get the number nine.
This means that it would take you nine years to double your money at eight percent interest.
The first corollary of this law says:
The key to compound interest is to put the money away and never touch it.
Once you begin accumulating money and it begins to grow, you must
never, never touch it or spend it for any reason.
If you do, you lose the power of compound interest, and though you spend only a small amount today, you will be giving up what could be an enormous amount later on.
If you start early enough, invest consistently enough, never draw on
your funds and rely on the miracle of compound interest, it will make you
rich.
An average person earning an average income who invested $100 per
month from age 21 to age 65, and who earned a compounded rate of 10%
over that time, would retire with a net worth of $1,118,000!
Begin a regular, monthly investment account and commit yourself to
investing a fixed amount for the next five, ten or even twenty years.
Select a company with a family of mutual funds and investment instruments, and keep your money working, month after month and year after year.
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