You don’t need to be a Harvard grad or Wall Street stockbroker to make smart financial decisions.
Compound interest is a money-making tool available to everyone. This is a type of interest that allows your principal, or starting amount, to grow interest while any pre-earned interest ALSO grows interest. Compound interest is a simple way to grow your wealth. For example, even if you place only $500 in a savings account and leave it untouched, it’ll earn compound interest. Almost any investment will earn compound interest. Even a low rate of return can lead to substantial growth over the long term!