Smart Investing

Albert Einstein was born today in 1879. He is credited with saying, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

Compound interest is the difference between taking what appears to be the larger sum versus investing in something that grows exponentially. It’s often explained with the following example: 

Which is the greater investment, $1m or 1 penny doubled every day for a month? At face value, $1m might seem like the answer, but it is not. A single penny doubled every day for  days adds up to $5,368,709.12. That’s huge! Investing early in opportunities that offer exponential growth turn the tables, making you the earner. 

If you’d like more investment tips and financial guidance, we invite you to sign up for our special financial literacy program below.