One to two percent daily growth may not seem like much to someone with $100 in their account, but it really is. The top professional stock traders average six percent growth yearly. Once you can do that daily, it won’t matter if you start with $100 or $10,000.
You see, the patient trader, if given the option of one million dollars now or a penny compounded at 100% daily for 30 days would take the penny. The average person would not accept a penny and choose the million dollars now, only to blow-it-all over the next couple of months and be left with nothing but regrets.
What about five million dollars? If that penny began compounding the first day you got it, would you choose five million dollars or the penny? … Again, most people would take the five million, whereas traders would accept the penny and be blessed with $10.7 million dollars in 30 days!
Now, back to reality. Unless you win the Lottery or Publishers Clearing House, it’s probably not going to happen that quick. Still, wouldn’t that be nice, ten to twenty years from now? Even thirty years would still be impressive. While the average person has retired from their first job and is working on their second retirement just to get by, you could have the ultimate time-freedom.
Maybe you’ll be able to do it in five years. You won’t know until you try it. Invest more than your money. The time and energy you put forth will compound as well. Start compounding a few hours a day now and you’ll be surprised how early you’ll be able to retire.