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Post by Mr. Meyer on Sept 17, 2015 0:20:15 GMT
How can compound interest help you grow wealth?
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Post by hgore on Sept 17, 2015 15:50:58 GMT
It allows your money to work for you, not you for your money
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john
students
GVW Volunteer firefighter. If it flys it dies, if it hops it drops!
Posts: 20 
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Post by john on Sept 17, 2015 16:18:01 GMT
I agree with hunter, not only are you building interest, but you interest is building interest which makes building up wealth super easy.
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Post by clarahanger on Sept 17, 2015 21:32:57 GMT
Compound interest helps you grow wealth by building up on itself. The percentage of interest is taken on the entire amount invested, not just the initial amount invested. This way, the amount of interest earned grows along with the entire amount of money. So if you don't touch the money, it will grow even more wealth.
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Post by Katie Mahoney on Sept 18, 2015 13:08:59 GMT
Compound interest helps you grow wealth by building up on itself. The percentage of interest is taken on the entire amount invested, not just the initial amount invested. This way, the amount of interest earned grows along with the entire amount of money. So if you don't touch the money, it will grow even more wealth. Clara is right, compound interest allows you to earn interest on your interest, not just the total you invested. |
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Post by jonathan on Sept 18, 2015 16:33:54 GMT
I agree with hunter, not only are you building interest, but you interest is building interest which makes building up wealth super easy. I agree with hunter and john the money building on itself makes saving easy and rewarding.
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Post by michaelameyer on Feb 19, 2016 21:05:35 GMT
I agree with John that it works on its own and you just have to leave it be.
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