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Ordinary People Become Millionaires With Compound Interest (Explained for Beginners)
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Compound Interest is making so many millionaires! It is so simple and easy to let the power of compounding work by investing in an index fund or ETF like the S&P 500 VOO and just letting it compound for years. What is compound interest and how can the power of compound interest be used? Personal finance and financial education starts with this!
#compoundinterest #indexfunds #stockmarket #investing #howtoinvest
“If you don’t find a way to make money while you sleep, you’ll work until you die” - Warren Buffet
Best ways to earn compound interest: ETFs or Index Funds with low expenses! My favorite is the S&P 500 or VOO, the Total Stockmarket Index Fund or VTI, and also QQQ.
Compound interest is just basically a way for you to make money and then the longer you hold that money somewhere, the money compounds on itself.
For example, if you were to put $1000 in the S&P 500 which returns an average of 10% each year, you’d make $100 this year. If you kept that money in there for all of the next year, you’d make $110 on your money since it is 10% of the $1,100 now. So in total you’d now have $1,210. In 10 years, you’d have $2,594 and in 30 years, you’d have $45,260 IF YOU NEVER ADDED TO IT AGAIN!
0:00 - The Power of Compound Interest Explained for Beginners Simple
0:42 - Compound Interest Vs. Simple Interest
1:36 - How you will ACTUALLY witness Compound Interest in investing
2:17 - Compound Interest S&P 500 ETF VOO Past 5 Years
3:08 - How Compound Interest is Calculated (SIMPLE)
4:40 - How to Choose the BEST ETF for Compound Interest
*All content on my YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice or investment advice. Please be safe and seek out guidance of professionally trained and licensed individuals before making any decisions.
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
#compoundinterest #indexfunds #stockmarket #investing #howtoinvest
“If you don’t find a way to make money while you sleep, you’ll work until you die” - Warren Buffet
Best ways to earn compound interest: ETFs or Index Funds with low expenses! My favorite is the S&P 500 or VOO, the Total Stockmarket Index Fund or VTI, and also QQQ.
Compound interest is just basically a way for you to make money and then the longer you hold that money somewhere, the money compounds on itself.
For example, if you were to put $1000 in the S&P 500 which returns an average of 10% each year, you’d make $100 this year. If you kept that money in there for all of the next year, you’d make $110 on your money since it is 10% of the $1,100 now. So in total you’d now have $1,210. In 10 years, you’d have $2,594 and in 30 years, you’d have $45,260 IF YOU NEVER ADDED TO IT AGAIN!
0:00 - The Power of Compound Interest Explained for Beginners Simple
0:42 - Compound Interest Vs. Simple Interest
1:36 - How you will ACTUALLY witness Compound Interest in investing
2:17 - Compound Interest S&P 500 ETF VOO Past 5 Years
3:08 - How Compound Interest is Calculated (SIMPLE)
4:40 - How to Choose the BEST ETF for Compound Interest
*All content on my YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice or investment advice. Please be safe and seek out guidance of professionally trained and licensed individuals before making any decisions.
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
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