There was once a king in India who was a big chess enthusiast and had the habit of challenging wise visitors to a game of chess. One day a travelling sage was challenged by the king. As it turned out, it was one of those rarest occasions where the king lost the game. While the king was certainly disappointed, he was also pleased at the wise man's intellect.
To reward the sage's achievement, the king offered him any reward of his choosing. The sage modestly asked just for a few grains of rice in the following manner the king was to put a single grain of rice on the first chess square and double it on every consequent one. The king was astonished at such a modest request, but accepted it at the sage's behest.
The king ordered a bag of rice to be brought to the chess board. Then he started placing rice grains according to the arrangement: 1 grain on the first square, 2 on the second, 4 on the third, 8 on the fourth and so on.
Following the exponential growth of the rice payment, the king quickly realised that he was unable to fulfil his promise because on The twentieth square the king would have had to put 1,000,000 grains of rice. On the fortieth square, the king would have had to put 1,000,000,000 grains of rice. And, finally, on the sixty-fourth square, the king would have had to put more than 18,000,000,000,000,000,000 grains of rice which is equal to about 210 billion tonnes and is allegedly sufficient to cover the whole territory of India with a metre thick layer of rice.
It was at that point that the sage told the king that he doesn't have to pay the debt immediately but can do so over time. And so the sage became the wealthiest person in the world.
Lessons from this story
What may seem insignificant, with the benefit of compounding can yield unimaginable results. Apply this concept to your investments start early, remain disciplined, stay patient attain financial independenc
e!
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