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Prescient Investment Management

National savings month: mastering compound interest: everyone’s financial superpower By Gabriel Botha, Prescient Retail Business Development July 2024

August 20, 2024

As we enter the final week of National Savings Month, it's an opportune time to highlight the power of compound interest, a cornerstone of long-term financial growth. Warren Buffett famously described compound interest as the "eighth wonder of the world." His wealth, largely accumulated after his 50th birthday, underscores the transformative power of time and patience in investing. The secret? Start early, invest consistently, and allow compound interest to work over time. As Buffett himself noted, "My life has been a product of compound interest."