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Albert Einstein once said: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
💵 While it may be tempting to spend everything you make, you’ll end up much wealthier if you invest as much and as early as you can.
As an example, let’s say we have two people, Albert and Barry who invest in a fund that gives them 7% a year.
🕺🏻Albert invests $5,000 a year at age 18. He stops investing after 10 years and just lets the investments continue to grow.
🕺On the other hand , Barry also invests $5,000 a year but starts at age 28 and continues his annual $5,000 contribution until he retires at age 58.
At the end of it, Albert invested for 10 years early on and only put in $50,000, whereas Barry invested $150,000 over 30 years.
Who do you think has more money at the end?
🕺🏻🎉 Surprisingly, Albert has more money over time with $521,000 whereas Barry only has $502,000!
The point is, it pays to invest as early as possible!
👍 If you haven’t invested yet, it’s ok! It’s better to start now than never at all.
*Please note that the information in this video is for educational and entertainment purposes only and should not be taken as financial or investment advice. Any investments or financial decisions you make based on the information in this video are at your own risk. The links in the description above may include affiliate commissions or referrals, and I may receive compensation from partner websites.
#investing #compoundinterest #stockmarket
