Have you ever heard the phrase “time is money”? When it comes to investing, this couldn’t be more true. The earlier you start investing, the more time your money has to grow. Compound interest is the secret behind financial growth. It is the interest earned on both the principal amount and the accumulated interest from previous periods. Essentially, it is interest on interest. This magic formula can help you grow your savings exponentially over time. But, the power of compound interest is often underestimated or misunderstood by many.
