For physical intuition, so you can explain it to your little sister, I will use a 1m long ruler.
Take the ruler an divide it into two equal parts:
$$1=\frac{1}{2}+\frac{1}{2}$$
Take one of the parts you now have, and again divide it in half.
$$=\frac{1}{2}+\frac{1}{4}+\frac{1}{4}$$
Take one of the smaller parts you now have, and again divide it in half.
$$=\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+\frac{1}{8}$$
Repeat. In general for $n$ a positive integer,
$$=\left(\frac{1}{2}+\frac{1}{4}+...+\frac{1}{2^n} \right)+\frac{1}{2^n}=1$$
So,
$$\frac{1}{2}+\frac{1}{4}+...+\frac{1}{2^n}=1-\frac{1}{2^n}$$
As we let $n$ become a really big (positive) integer, note the sum gets closer and closer to $1$, because $\frac{1}{2^n}$ gets really close to zero (the smallest part of the ruler you have left over gets close to 0 meters in length). We say the sum converges to $1$ in the limit that $n \to \infty$.