Watch This — The ‘Magic Penny’ Lesson, and How It Can Make You Rich

What would you rather have -- $1 million, or a penny that doubles every day for 30 days? Watch this video before answering.

Watch This — The ‘Magic Penny’ Lesson, and How It Can Make You Rich Photo by B Calkins / Shutterstock.com

Albert Einstein is alleged to have called compound interest “the eighth wonder of the world.” Although there is little evidence that Einstein actually uttered such a phrase, the sentiment still rings true.

Compound interest has the power to make people of modest means very rich. If you don’t believe it, check out this video by YouTube user Ambit A-Team.

The video vividly reveals the amazing power of compound interest, and how it can make a small pile of dollars grow into a mountain of riches over time.

Have you grown rich thanks to the power of compounding interest? Share your story by commenting below or on our Facebook page.

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