The Power of Compound Interest

The Power of Compound Interest

Make your money work for you! Accumulating serious wealth, becoming a millionaire, ensuring retirement in the age of failing Social Security; all of this can be made possible through the power of compounding interest.  It is not difficult, all you need is discipline and time. Below is a link to a compound interest calculator, which willhttps://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator show you exactly how much you can earn with any initial investment, contributions, amount of time, and interest rate. Click here for the calculator > {https://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator}.

All you need to do is have the discipline to invest monthly, ensure your portfolio stays at a consistently good interest rate (many brokerages allow you to install stops that will withdraw your investment if the stock crashes below that set interest rate amount), and then you can watch your wealth amass over the years. The most critical thing is that you start early. Think of compound interest as a snowball, it gains its power and size throughout time. The more time you allow for this snowball to grow, the larger it can get.

 

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