I learned about compound investing a few years ago and it is amazing. I advise all young people to try to save their money until they turn 18 to invest it. Compound interest is crazy!
If you invest $1000 at the age of 18 and let it grow until your 65 (retirement) at the average rate of 8% growth per year you will come out with $37,232.01!
Calculate it on your own here: https://www.investor.gov/tools/calculators/compound-interest-calculator
Just thought people might be interested in this.
If you invest $1000 at the age of 18 and let it grow until your 65 (retirement) at the average rate of 8% growth per year you will come out with $37,232.01!
Calculate it on your own here: https://www.investor.gov/tools/calculators/compound-interest-calculator
Just thought people might be interested in this.
