My Fifth Blog: The Secret of Making Money- It was exactly what the King thought, and he learned his lesson the hard way.

Albert Einstein once said, “Compound interest is the eighth wonder of the world. He who understands it earns it; he who doesn't pays it.”

The king Known for his love for chess, the King would challenge wise visitors to play a match with him. It is said that a king would offer any treasure or prize he wished to his opponent if the challenger achieved victory over him.

Upon arrival in the kingdom, the King challenged a traveling sage to play a game. Asked what reward he desired, the sage indicated that he had modest means and did not need much. He said, “Oh, Mighty King, my requests are straightforward. I can only hope for this. Please give me one grain of rice for the first chessboard square, two for the next, four for the one after that, eight for the next, and so on for all 64 squares. All I ask is that with each square, the number of grains is double the number of grains in the preceding square.”

To the King, this request seemed acceptable. So, he instantly agreed to it. Only when the King sat down to make the payment and began calculating how much grains would be required to fulfill the request, he understood that he would have to give away 18,000,000,000,000,000,000 grains of rice, or almost 210 billion tonnes, on the sixty-fourth square. the amount is sufficient to cover the whole territory of India with a meter-thick layer of rice. By agreeing to this request, the King bankrupted himself.

Through the power of compounding, you can earn interest on your interest, and provided you stay invested, you can see a significant multiplication of your assets. Unfortunately, most of us lack that and hence panic and withdraw money every time the market falls. The key is to stay invested over long periods, for compounding to work. 👈👌