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BVC #21: True Power of Compound Interest [VIDEO]
Posted By Jim On 10/20/2009 @ 7:02 am In Banking | 27 Comments
It doesn’t take a genius to know that compound interest is a pretty remarkable thing. When your interest earns interest… and then earns some more, it can make for some large numbers over a long period of time. That part isn’t so difficult to understand even though plenty of people have written about it.
So why did I make a video about the “true power” of compound interest? Watch.
Bargaineering.com #21: True Power of Compounding Interest  from JIM WANG  on Vimeo .
As a quick aside, this video was shot with a better camcorder and improved lighting. If there are any video mavens out there, I’d love to hear your tips on how I could improve the quality of these videos… short of replacing me, of course!
As you saw in the video (or didn’t, I’ll assume you watched it!), waiting just a single year really puts you at a disadvantage to your better saving peers. So many people delay their savings because of life circumstances, and that’s fine, but you have to realize that you’re giving up 40 years of interest, not just one.
So, if you can save a few dollars today, do it. By the time tomorrow rolls around, you’ll have lost out on a long time.
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