How Your Child and Teen can earn Compound Interest!
Updated: Jul 29, 2022
Raise your hand (virtually) if you learned about compound interest in school! Let's be honest...most of us didn't! Compound interest has been referred to as the eighth wonder of the world and we see why! Simply put, compound interest is “interest on interest” For example, just imagine your original $100.00 investment for your child growing into almost $12K without you doing anything else! #lazymoney How it works: Year 1 you would earn $10 = $110 total Year 2 you would earn $11 = $121 total Year 3 you would earn $12.10 = $133.10 total. And so forth! Now we used a small number for this example, but imagine how your money could grow as you add larger amounts of $$$ each day, week, months, & years?! 🤯 This is why the EARLIER you start, the BETTER! AND this is why we strongly urge parents/guardians (yes, YOU ) to start your kids early! Can you imagine how their portfolio could look when they turn 18? And don’t let them have enough discipline to hold until 60! 🤑They would be sitting on bags 💰💰 Your child could possibly reach millionaire status in their 20s & 30s (of course depending on how much is contributed and your investments choices) all because of the seeds that YOU planted today! And the best part is that you can start with ANY dollar amount! This is why investing is for EVERYONE including your kids! The best time to start investing for you and your family was yesterday, but the second best time is NOW!
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