|What is Investing?
Time Value of Money
Rule of 72
Let me give you an example of how time can save you $52,000 and make
If you have a friend who waits until he/she is 30 to start saving and they save $2,000 a year every year until they are 65 which is a total of $70,000, they will only have $542,048.73, a difference of $220,000 from the person who started at the age of 21. Time is definitely on your side, so start early! Imagine what it would be if you started saving even earlier than 21!
What if I have $10,000 invested at various interest rates? After 20 years this is what I would have.
$194,607 vs. $21,911: which do you think is better?