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Like attracts like, that’s why you use bait to trap fish. Money is not an exception. Money invested brings in more money. The more money you invest, the greater the returns you will get. This is the Law of compounding.
Johnnie Cass used a bet on a golf course to demonstrate it:
He started with a bet of £1 per hole and doubling your bet on each hole. That seemingly insignificant amount compounded over each hole becomes £256 in 9 holes. After the 15th hole the amount has compounded to £16,384. At hole 18 the compounded effect is £131,072!
Compounding is why and how the rich get richer and the poor get poorer. Well, both groups are attracting much more of what they already have (money for the rich and poverty for the poor).
Consider your wealth strategy and do invest and reinvest what can be invested.
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