Episode 022, The Power of a Compounding Penny.

Welcome to the Millionaire Mindcast, where we broadcast weekly interviews with millionaire minds from across the globe to empower you on your journey of unlocking a rich and fulfilling life.

It's time to unleash your millionaire within.

Now, here's your host, Maddie A.

Hey, what's going on, everybody?

Welcome to today's wealth tip Wednesday.

I am your host, Maddie A, and I wanted to dive into this short topic of compounding interest and really

the compound effect in general and how it not only can be leveraged to your advantage in your

financial wealth building journey, but also how you can apply this concept to other areas

of your life and really how it ties into your overall health and wealth and

happiness altogether. Darren Hardy's book, The Compound Effect, was really a transformative

book for my mind more than anything, but in particular I wanted to shed light to the power

of this example that he shares in regards to the story of a compounding penny.

So let's say, for example, you are offered two choices.

Would you take $3 million in cash right now if I were to just shove a suitcase right

across the table, pop it open, and fresh, cold, hard cash is staring at you in the face eye to i Benjamin to you

or would you like to take the option of having a single penny that doubles in value every day

for the first 31 days.

Well, if you're anything like most people who are asked this question,

it's an easy answer, right?

You take that $3 million cold, hard cash,

and you walk away a multimillioner on the spot.

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