A short motivational talk by Mel Abraham about long-term wealth growth emphasizing the power of compounding, the importance of starting early (especially in your 20s), increasing saving/investing rates, and avoiding destructive debt and ego-driven purchases.
Compounding is slow at first and then boom, it takes off like. But most people quit right before the explosion. Okay, I don't want you to do that. Now you might be saying to me, but wait a second, I'm 40 years old, I'm 50 years old, I'm 20 years old. Let's talk about some age specific things before we close this out. The first thing is let's say you're in your 20s, y'. All. If you're in your 20s, it's the magic spot. Time is your superpower. You have less effort, more. You just have to have more discipline and get in the thing. So what do you do in your 20s? Make sure that you're getting in the game and pushing your savings and investing rate up as high as possible. Avoid destructive debt. Avoid allowing your ego to make purchases that your bank account can't afford. Okay? Start small, but start early. Stay in the game.
