Pardon me while I rant about this topic again!
I met with another person today who did not know about compound interest!
When I am able to show a person the POWER of compound interest and how it can help them (investing) or hurt them (paying interest on debt), I get pumped up! This is LIFE-CHANGING information!
I cannot believe that schools in America are not required to teach this to every single student! Math teachers should be required to teach it every single day! I mean, I have learned about derivatives and integrals and kernels and that knowledge does not help me every day, but compound interest DOES help me every single day!
I know that my investments are relatively small today, but, oh baby, when I see where they will be in 10 years, 20 years, and 40 years from now. WOW!!!!
$100/month at 12% return for 40 years is $48,000 invested but is worth $1,176,477!
Are you investing YET? RUN to the nearest investment office!
Have you taught your children about this? Do not depend on the school to do it! You need to teach them and model this for them. Kids get this stuff!