Transcript of video:
Hi, my name is Caleb Pearson with Compass Financial Services.
Today I want to ask you a “would you rather” question. Would you rather have a million dollars today or a magic penny than doubles every day for 30 days. Now for those of you who have seen this illustration before, you probably picked the penny and you’d be wise to do so. See believe it or not, this penny becomes over 5.3 million dollars after 30 days of doubling.
I love this illustration because it teaches us a few different things about money. First, instant gratification can be a dangerous thing. See, I don’t know about you, but I would probably spend that million dollars just as quickly as it was given to me.
Another good thing it teaches us about money is that taking the time and discipline to save your money, let it grow over time and invest it can be really rewarding. It’s a really good thing. It does take patience and it does take the time to do it, but it can be very rewarding in the end.
So, with that being said, next time you come across a penny on the sidewalk pick it up. You never know. It could be magical.