The great Albert Einstein once stated, “The most powerful force in the universe is compound interest." Because compound interest is a really amazing invention he called it the "8th Wonder". It can work for you, or against you. When you invest, it works for you. When you borrow it works against you!
Reinvest your dividends throughout your working career so you secure maximum compounding. Investing in high yielding dividend stocks is key if you intend to live comfortably during your retirement years. Check out this handy Compound Interest Calculator. Plug in your numbers and use your favorite stock's dividend yield as the "Interest Rate" and also use 30 years in the "Years to Grow" section. Just think of how sweet those dividend payments will be when you are in your early 60s.
Please watch these three videos below. They are a few of my favorite Compound Interest videos available on YouTube. Never underestimate the power of compound interest!
No comments:
Post a Comment