Compounding growth is incredibly powerful as a wealth generator, but it requires time and patience.
Tag - compounding
A viewer asked us if it was possible to accumulate R1.1 million within five years by saving R8 250 per month.
You may have seen an advert for a five-year fixed deposit offering an interest rate of 13.3% on maturity.
Time is one of the most powerful forces when it comes to growing your money – all thanks to the power of compounding.
Q&A: "I recently read an article that stated that by investing R500 per month you can save R2.3-million. You said that this is the power of compound interest growth although one has only contributed R60 000, the rest is all growth from the investment itself. Please explain this," writes Petros.