This Is the 8th Wonder of the World, According to Albert Einstein. And Utilizing It Correctly Can Help Make Saving for Retirement an Absolute Breeze.
Compound interest might not exactly be the financial miracle that some people claim it is, but it's still a powerful force and an essential concept for retirement planning. You can use it to your advantage to fuel wealth creation, but it can also be harmful for people who aren't careful. Make sure that you understand the ways that compound returns function, so that you can unlock the advantages and avoid associated pitfalls.
The quote, "Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it," is often attributed to Albert Einstein. He was a pretty smart guy, so it's fair to assume that there's some wisdom in that assertion. Regardless of the specific context of that quote, Einstein astutely cited the consequential power of compound interest in finance, investing, and economics.
Source Fool.com
