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

By Phil Town

entrepreneur daily

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 Network is 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 top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

Click here to become a part of this growing video network.

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.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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

Thought Leaders

How Gangster Al Capone Inspired the Launch of a Family-Run Company That Has Thrived for 95 Years

Marty Ozinga, the fourth-generation CEO of Ozinga, explains the legacy and future of the powerhouse construction materials company.

Marketing

4 Ways AI Is Revolutionizing Targeted Advertising — And How to Balance It's Ethical Implications

AI-powered targeted advertising revolutionizes marketing with hyper-personalized promotions. However, ethical and transparency questions hover over this progress.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business Solutions

Host Your Website with iBrave — $90 for Life Through March 24

iBrave is an advanced cloud web hosting platform.

Health & Wellness

Stress Buster: Leverage the Benefits of Non-Clinical Art Therapy with This $40 App

Therapeutic, art-based exercises utilize hundreds of original works of art to add a blend of positive benefits to the experience.