A few years back I was having a conversation with some people on how
whenever you decide to invest in something for the long term, you
should always think ahead on what would be the best choice in the long
run while having persistence to follow through with it. The scenario
was that if you were given a choice to receive one million dollars in
one month or a penny doubled every day for 30 days, which one would you
choose? When I first heard this, I knew that the penny doubled everyday
must have been the better choice to go with as it was a little obvious
to me that it had to be a trick question of some sort. But how much
better would it be was not something that I knew immediately. So to
demonstrate this, it was actually written out with all the calculations
and it turned out to something like this: Now do you understand how the PowerBar Club works ????????
Day 1: $.01
Quite a big difference once you look at it as you would be getting over 5 million dollars with the penny doubled everyday for 30 days route. The funny thing when I look at this is how it is almost like starting a business and trying to make a profit. In the beginning you struggle a lot to get things going and afterwards once it reaches to a point it just takes off smoothly. How does that analogy go again……it is something like starting a business is like a rocket ship taking off into space. You spend 80% of your fuel during take off and once it reaches a certain point it flies smoothly with minimal consumption.