The Magic Penny - Deepstash

# The Magic Penny

Option 1: You are offered \$3 million.

Option 2: You are offered a single penny that doubles in value every day for 31 days.

After 31 days:

• If you chose option 1 - You have \$3,000,000.00 (if you don't spend it)
• If you chose option 2 - You end up with \$10,737,418.24. FUN FACT- on day 29, you will only have \$2.7 million. You beat option 1 only on day 30.

54

CURATED FROM

IDEAS CURATED BY

Check out my blog for more!

Compounding is the eighth wonder of the world - Einstein. Check out: https://whealthlab.blogspot.com/2024/07/book-simplified-compound-effect-by.html

## Similar ideas to The Magic Penny

### The Power Of Compounding

Would you rather have (A) \$3 million upfront or (B) one penny that doubles in value every day for 31 days?

Choose any one!!

To maximise your gains, the correct answer is (B). But it doesn’t happen quickly. After 19 days you’d still only have \$5,243 and you might feel pretty foolish ne...

### Compound Effect

The Compound Effect “is the principle of reaping huge rewards from a series of small, smart choices,” made consistently, over a long period of time.

For example, would you rather have (A) \$3 million upfront or (B) one penny that doubles in value ev...

### The Compound Effect

Is "the principle of reaping huge rewards from a series of small, smart choices, made consistently, over a long period of time.” Compounding requires enormous amounts of patience.

For example: Would you rather have (A) \$3 million upfront or (B) one penn...

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Unlimited idea saving

Unlimited history

Unlimited listening to ideas