---
title: "1 Compounded Difference Quotes by 1 author"
description: "Browse 1 Compounded Difference quotes by 1 author. Discover the best Compounded Difference sayings and thoughts."
image: "https://sms4smile.com/quotes/i/913/charlie-munger-458_compounds_if-you-re-going-to-buy-something-which-c_1801712.jpg"
---

> [If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In…](https://sms4smile.com/quotes/charlie-munger/if-you-re-going-to-buy-something-which-compounds-for-30-years-at-15/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/913/charlie-munger-458_compounds_if-you-re-going-to-buy-something-which-c_1801712.jpg)

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                        "text": "If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%-or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening.",
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