You have probably heard the expression that “the first million is the hardest”. This has nothing to do with learning how to make money and somehow mastering it after the first million. In fact, it is equally hard to save the first R1 million as it is to save the first R100,000
On the other hand, we never say that the first R100 or the first R1000 is the hardest. Why is this?
It has to do with Benford’s law. The simplest explanation I can think of is that the increase from R1m to R2m represents an increase of 100%. Conversely, the increase from R2m to R3m is 50%, R3m to R4m is 33%, …. and 9 to 10 is 11.1%
Keeping it Real
Finding the Return
A Quick Summary