That’s the simple concept behind superannuation, but compound interest is not simple. You may not end up on the rich list, but you can still enjoy a comfortable standard of living in retirement. Now in his 90s, after a lifetime of buying quality investments and holding them for the long term, his net worth is over US$116 billion.īy understanding the basic principle of compound interest, especially early in your working life, you too can grow modest, regular savings into a substantial nest egg. He started investing as a teen and that snowball is still rolling and growing exponentially. Legendary investor Warren Buffett called his biography The Snowball in reference to the snowball effect. Albert Einstein isn’t the only bright spark to recognise the power of compound interest.
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