1 Penny That Doubles Every Day for 30 Days OR $1,000,000 CASH?
How Compounding Works… FOR You.
This common question was circulating around for quite a while and recently I heard it again:
If you were offered a single penny that doubled every single day for the next 30 days, OR $1,000,000 in CASH right here, right now, which one would you take?
Let’s stop and ask ourselves for a moment; which one would you take? The penny or the cash? Well, the cash seems like the obvious answer, right?
Wrong!
Check out what happens when you invest a small amount ($0.01) and let it grow and in this case DOUBLE for the next 16 days:
As you can see, in the first 16 days, not much is happening. You probably have your neighbour, who accepted the $1,000,000 in cash living it up and buying expensive cars and/or houses.
Just look at that compounding though!!!! By day 27 you’ve already passed your neighbours paltry $1,000,000! By day 30, you’ve got over 10x the cash option!!
