The Physics of Wealth: Understanding the Mathematics of Compounding
Compounding is often called the eighth wonder of the world. But mathematically, it's simply an exponential growth function.
The Formula: A = P(1 + r/n)^nt
The variables are:
- P: Principal
- r: Rate
- n: Compounding frequency
- t: Time
While P and r get most of the attention, t is the exponent. A small increase in time results in a disproportionately massive increase in the final amount A.
The 'Lag' Phase
In the early years, compounding looks linear and boring. This is where most people quit. The 'hockey stick' curve only appears after the first decade of consistent reinvestment.
Reinvestment of Dividends
Compounding only works if the returns are fed back into the principal. In the Finance Lab, we focus on 'Total Return' strategies that prioritize the accumulation of assets over immediate yield.