If You Want to Get Rich, Trust in the Power of Compound InterestIf you're looking to double -- then triple -- your investments, look no further than compounding.

ByPhil Town

Opinions expressed by Entrepreneur contributors are their own.

According to Entrepreneur Network partner Phil Town, compounding interest is seriously powerful. Compared to past saving methods like using CDs and money market accounts, compound interest bypasses the growth-killing handicaps low returns and modern inflation. Even historic genius Albert Einstein admitted he never fully figured out the mathematics of compounding -- which describes the concept of starting with very little initial capital and eventually having it increase to an astounding new value.

Even if you can only invest a small percentage of your income every month, the benefits of time and compounding can reveal the long-term power of investing.

Click on the video to hear more from Phil Town.

Related:7 Habits to to Help You Make Smarter Money Decisions

Entrepreneur Networkis a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of topYouTube channelsin the business vertical. Watch video from our network partners on demand onRoku,Apple TVand the Entrepreneur App available oniOSandAndroiddevices.

Click hereto become a part of this growing video network.

Wavy Line
Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

More from Phil Town

How to Find a Stock On Sale That's Right for You

3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

Editor's Pick

Related Topics

Business News

What Is a 'Lazy Girl Job'? New TikTok Trend Empowers Women to Work However They Want

The trend began as a way for women to find more free time during their days.

Business Ideas

The Top 10 Home Business Ideas for 2023

Can't figure out which enterprise you should launch in 2023? Check out 10 stellar home business ideas to get inspiration.

Starting a Business

10 Common Obstacles to Avoid When Starting a Business

Starting a new business can be an exciting and rewarding venture, but it also comes with its fair share of challenges. Here are some common obstacles to avoid when starting a new business.

Growing a Business

3 Solutions That Help Alleviate Everyday Pressures Small Business Owners Face

We live in a world with increasing pressures from stakeholders, constantly changing customer expectations and volatile financial conditions — which for many, especially business owners — can make it hard to create clear distinctions between professional and personal emotions.

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.