Here's part 4 of Kiplinger's five keys to investing success. Today, we'll be covering key #4, keep time on your side. Their thoughts:
The time value of money works against you if you’re the one waiting to collect the money, but it works in your favor if you’re the one who has to pay. Success often lies in being able to identify the proper side of the equation. You just need to keep in mind this principle—a dollar you pay or receive today is worth more than a dollar you pay or receive tomorrow.
While they don't say it specifically here, they're talking about the power of time and the power of compounding. If you put these two to work for you in the right way, you're on the road to becoming rich.
For more thoughts on investing your money, see these links:
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