Would you rather have £1m now or 1p that doubles every day for 31 days?
 
It’s a trick question – you would want the 1pm, trust me.
 
#compoundgrowth is very important in #investing – courtesy of AI, see below what only an extra 5% a year does:
 
What’s the difference between 10% and 15% growth over 10 years on £10k?

Over 10 years, a 5% difference in growth rate can result in a significant amount of money. 

Here's how much difference 10% and 15% growth would make on a £10,000 investment:

10% growth: After 10 years, with a 10% annual growth rate, your £10,000 investment would grow to £25,937.42.

15% growth: At a 15% annual growth rate, the same £10,000 investment would reach £40,578.04 after 10 years.

The difference in future value between 10% and 15% growth over 10 years on £10,000 is £14,640.62.

In short, a higher growth rate can significantly increase your investment's future value. However, it's important to remember that higher growth rates are often accompanied by higher risk. It's always wise to consult with a financial advisor before making any investment decisions.

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