Magic to become a millionaire
By: Selena Maranjian
Compounding
Compounding can be easy. It doesn't take a scientist to become a millioner from compounding. You just have to follow this simple steps.
- The amount of money you invest
- The amount of time you give it.
- Rate of growth
Example
Year Start with Add 10%
0 $100 $10
1 $110 $11
2 $121 $12.10
3 $133.10 $13.31
4 $146.41 $14.64
5 $161.05 $16.11
6 $177.16 $17.72
7 $194.88 $19.49
8 $214.37
Step 1
Amount of money you're will to put in every month.
Step 2
Time! From the time you start to the time you end makes a huge diffrent. The early you start the better. It's up to you.
Step 3
Your rate of growth is very important.