From Harry Domash at MSN Money:
"Compounding," Albert Einstein said, "is mankind’s greatest invention because it allows for the reliable, systematic accumulation of wealth." Einstein was a smart man. But you hardly have to be a genius to make this concept work for you.
The real magic of investing comes when you combine the surprising power of compounding with continuous and regular investments - in other words, discipline.
The best way to make these continuous investments happen is by setting up an account with a broker or mutual fund that automatically deducts a fixed amount from your bank account every month.
"Automatic" is the operative word here. Trust me, if you don’t set it up that way, it won’t happen. Instead, you’ll end up pouring money in when the market is soaring and skipping payments when it’s heading down. Eventually you’ll get discouraged and give up.
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