Let compound interest work for you from "summary" of The Simple Path to Wealth by Jl Collins
Compound interest is a powerful force in building wealth. It is the concept of earning interest on your initial investment, as well as on the interest that has already been earned. Over time, this can lead to exponential growth of your money. The key is to start early and let time work its magic. The longer your money has to compound, the more wealth you can accumulate. One of the best ways to take advantage of compound interest is to invest in low-cost index funds. These funds allow you to own a small piece of a large number of companies, giving you broad diversification and minimizing risk. By investing in the overall market, you are essentially betting on the strength of the economy as a whole. Over the long term, the stock market has historically provided solid returns, despite short-...
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