![]() It’s your best friend as you continue to save and invest for the future, helping your money grow faster and faster over time. ![]() And the money that money makes, makes money.” Well said, Ben!Ĭompound interest is the secret sauce for building wealth, and it’s one of the most basic principles of investing. Basically, you’re earning interest on top of interest.īenjamin Franklin explained it best when he said, “Money makes money. But there’s also a dark side to compounding interest that could keep you stuck in a cycle of debt if you’re not careful.īut what exactly is compound interest? And how does it work? We’ve got a lot of ground to cover, so let’s jump right in.Ĭompound interest is the interest you earn from the original amount (or principal) of an investment plus any interest you’ve already made through that investment. ![]() Albert Einstein once said compound interest is the “eighth wonder of the world.” And when one of the smartest people who ever lived puts something in the same category as the Great Pyramid of Giza, you better pay attention!Īfter all, this powerful investing concept could make you millions of dollars over your lifetime-if you use it right.
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