Why is Warren Buffett such a successful investor? Because he discovered the power of compounding at a very early age and consistently invested over his lifetime. In today's episode, I explain the meaning of compound interest and how it can both fuel your investments, or hinder your financial future. Don't miss it!
For those of you who are visual learners, check out the formula for compound interest here: https://www.propercents.com/banking/the-power-of-compound-interest/?gclid=Cj0KCQiAiJSeBhCCARIsAHnAzT8O6oVziniF4ui8m1luz6c3xEvjsAo6o7TsZt1yKW1GKQGuCdQQa3kaAo4WEALw_wcB
Seeking Alpha is a great source for investors. Check out this example of compounding investments for different time horizons: https://seekingalpha.com/article/4061298-power-of-starting-early
Learn more about how credit cards charge interest here: https://www.zdnet.com/finance/credit-cards/compounding-interest-on-credit-cards-works-against-you-heres-how-to-beat-it/
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