Compounding By: Adam Mortimer

Why is compound interest crucial to your long term success with money? As my millionaire mentor put it while talking about compounding interest, “there are those that understand it and those that don’t, those that understand it will earn it and those that don’t will pay it.” What side of the equation do you want to be on? Compound interest is where you interest earns interest. How much would you have if you took one penny and doubled it for 31 days? The number may blow your mind. To figure this out simply type in .01 to represent one penny and then times it by the number two, you will want to do that 31 times. After the thirty first time you will start to get a glimpse into this miracle that I am talking about. Now, I want you to take a good hard look at that number and ask yourself the question, “Can I ever get ahead financially if I have this powerful case working against me?” It is not humanly possible to work as hard as money can work. How hard does money work? Money, because it does not need to rest like us humans can work for you or against you 24 hours a day 7 days a week. That is pretty hard to compete with. The challenge this week is to refocus and recognize that if you have debt you are up against. The enemy is strong but you will conquer this foe using the debt elimination strategies of this program. As always, be consistent with the program and have fun with it. Let’s stop paying compound interest and start earning it!