If you thought demonetization was a big game-changer and destroyed the value of money in huge chunks, there’s a bigger game-changer on the horizon. This game-changer dwarfs demonetization when it comes to eroding the value of money. It is called time.
Time can wreak havoc on your profits, savings, and personal wealth, if due care is not undertaken. The most dangerous aspect of this is that erosion of your wealth over time can happen without you even knowing it. However, if you take timely investment decisions, time can work for you.
In order to see what corrosive impact time can have on your money, let us first understand the concept of ‘time value of money’.
Read the full article published originally on Financial Express: Why time value of money is important in financial planning