Albert Einstein said, "Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn't, pays it."
In every financial crisis, there are generally two groups of people. Those who ride above the wave, and those who suffer the pain. The first group seems to be more prepared, as if they knew long ago that something was going to happen.
What's their Secret?
This group of people understand a simple philosophy, "You don't plan to fail but you fail to plan." They started early and took advantage of the Eighth Wonder of the World. They are more ready for impact than others.
There's more
During times of great impact is also a time of great opportunities for investment. Yet only those who are prepared are able to take advantage of undervalued assets.
Here's a very good illustration to visualise the power of the Eighth Wonder of the World.
"Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things." - Charlie Munger
Feel free to get in touch to learn more. I hope that you and your loved ones will continue to stay safe. Cheers!
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