The Role of Compound Interest in Securing A Good Livelihood

Indianapolis Recorder's Smart Money Week features Everwise Credit Union, highlighting the remarkable impact of compound interest. Often dubbed the "eighth wonder of the world," compound interest transforms modest investments into substantial wealth over time. By reinvesting interest, your capital grows exponentially, underscoring the importance of early investing. For instance, investing $200 monthly at a 7% return can yield nearly $480,000 by age 65, compared to $227,000 if started ten years later. Mastering this financial principle can pave the way to financial independence and security.