“Compound Interest is the 8th wonder of the World ? ” – Albert “Money Man” Einstein
Let Class Begin
Time horizon (20 to 40 years old) “The younger you are the better when it comes to investing”. This is a golden rule especially if you are in your younger 20’s. I remember the saying “No Sleep, Get Money”, was real popular. That meant not going to sleep at all, – just to make barely any money. I always thought that idea was pure dumb. I guarentee you could get 18 hours of sleep if you learned the important of investing your money ??+??=?
“Truth being told no one in my family ever taught me about The Stock Market or how to become Financially Independent because they were simply Financially Illiterate themselves. It was a skill I had to learn by myself and through the books I read. Before than I had so many bad habits when it came to Money. Let me save you” – Jay Starks
Since I cracked the Divenci Code, lol, I am here to teach others especially from the Lower Income Community and my people (Blacks) the importance of Compound Interest.
*Any race is always welcomed, but I know majority of you reading this already know, & I know you know blacks barely read or Invest, so I have to teach my people*
Let’s say you are 20 years of age and invested only 10,000 while still contributing just 50 dollars a month letting it grow for 20 years, each year making a 10% ROI (Return on Investment).
At the young age of 40 you would have 102,000 instead of 34,000 if you just had it saved in a traditional bank account earning only 0.01 cent every thousand. Traditional bank accounts by the way are bank accounts you have right now if you don’t know about Investing/Brokerage Accounts.
That’s a 68k difference. That’s Phenomenal! You probably won’t see the difference at first but as the years go you would be glad as hell you started when you did! Now that isn’t enough to live on for retirement but you must catch what I am putting down about Compound Interest. I will touch up on planning for retirement at little bit later. ?
We have to be more aware of this beautiful skill set. Passive income and diversification is a great way to meet your financial goals, my bad I mean wonderful way to meet your financial goals. Spending money on Jordans, Hoes, and Rims isn’t going to break those barriers to see the next level. We have to start building wealth and leaving inheritances to our children. Wealth is generational, that’s the key ingredient we are missing in our homes. We have to learn this game and play it well. Please, email me or just comment below if you would like to learn more about Compound Interest and Investing.
“Budget, Pay Debt, Invest, & Don’t Stress ?”
Do you know how compound interest works? Are you aware that your time is precious and means everything in the World?