Even Warren Buffet had to be patient, the keys to wealth!
Compounding takes patience
Warren Buffet, the world famous investor and example for investors all over the world, is one of the richest men in the world. But he didn’t become rich because of luck, he had to follow some rules to become this rich. The first and most important one is patience, nobody, except lottery winners, become multimillionaires overnight. Patience is key to let compounding do the work.
More than 99 % of Buffet’s wealth was earned after his 50th birthday, because of the way compounding works!
Reinvest your interests, dividends, earnings,…
If you want compounding to do the work, you have to reinvest your earnings from your investments. No matter how you have earned it. In the form of rent, dividends, interest, etc… Reinvesting it to earn even more later is another key that has to be followed. Without doing this, patience doesn’t even apply. The one doesn’t work without the other!
Invest instead of spending
If you want to keep your compounding grow higher, you have to keep investing. So spending too much doesn’t help you. You need to invest to get the chance to earn on your investment. This example below shows how much a difference it can make!
The rules aren’t that difficult, and nobody is perfect, but follow these rules as much as you can and you will become wealthy in time!
Keep on investing!
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Sincerely,
Pele23
Posted Using InLeo Alpha
Compounding profit is a brilliant idea to discuss and we could easily increase wealth by just putting our efforts into the mathematical magic to work with. Again, patience along with persistent task completion really works in the end.
Warren Buffet thought, experimented and even spent the whole life, he managed to let the outside market situation work in his favour. Thats how he won, with a bigger margin.
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