What they never tell you in school about the “Magic of Compounding” money !!
In India speaking about Death, Sex and Money is taboo.
Which could explain why we are possibly the only English speaking country where human beings “expire” while elsewhere they die and only their driving license expires. We just don’t want to acknowledge death which is the reason, not more than 10% of us around 50 years of age have Will. Albeit, advertising campaigns driven by deep pockets in the insurance business have I believe, to a great extent been successful in getting us thinking about death.
Even sex is now playing out on our large movie screens that too in color. The recent release “Meri Sallu” seems to have thrust it into our face. The dreaded “S” word seems to be out of our closets.
However, “money talk” still remains confined in whispers. This taboo remains intact because talking about money especially about making more of it, is considered a corrupting influence on young minds. It is surprising to me because, even our scriptures promote business enterprise for the prosperity it brings, so long as it is legitimate and is conducted within the confines of morality. Irrespective, I believe our young should be equipped to handle their money for themselves or at least, to ask their advisors the right questions and to evaluate the answers they get in response.
In this post, I only wish to address the need for you to fully appreciate the ability of “Compounding” to magically convert the “small” (which is what they are most likely to be when you are starting off in life) amounts you can save into size-able wealth and on the other hand, show how that magic could turn around to work against you like Witchcraft!
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