1% BetterĀ ā¢Ā 6m
"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." ā Albert Schweitzer Topic: Compound Interest ā The Game Changer in Wealth Building Imagine two friends, Raj and Priya. Both are 20 years old, and each decides to start investing ā¹10,000 every year. But here's the catch: Raj invests from age 20 to 30 (10 years) and then stops, leaving his investment to grow. Priya starts at age 30 and invests the same ā¹10,000 every year until she turns 60 (30 years). Who do you think ends up with more money at age 60? The Power of Compound Interest Compound interest is interest earned on both the initial principal and the accumulated interest from previous periods. It's like a snowball rolling down a hill, getting bigger and bigger. Raj's Investment: Total investment: ā¹10,000 x 10 years = ā¹1,00,000 Assuming an annual return of 10%, his money grows for 40 years without any further contribution. Priya's Investment: Total investment: ā¹10,000 x 30 years = ā¹3,00,000 Her money grows for only 30 years. When we calculate, Raj ends up with more money than Priya, despite investing less! This demonstrates the value of starting early. Priya and Raj lived in a small town and wanted to retire rich. Priya thought she could wait until she earned more, but Raj understood the value of starting early. While Priya was buying the latest gadgets, Raj focused on investing. When they turned 60, Priya was shocked to see Rajās wealth far surpassing hers, even though he had stopped investing years ago. She realized that time is the most valuable asset in building wealth. Follow Our Medium blog for Finance and Business insights like this: https://medium.com/@FoundrBite
1% BetterĀ ā¢Ā 7m
"The best way to predict the future is to create it." ā Peter Drucker Today, weāll focus on Finance Concepts. Concept of the Day: Compound Interest Compound interest is a fundamental finance concept that builds wealth over time. Letās explore it in
See MoreContent WriterĀ ā¢Ā 3m
The Power of Compounding: How Small Investments Create Wealth Compounding is often called the eighth wonder of the world. Itās the process where your money grows not just on the initial investment but also on the returns generated over time. Imagin
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Techsaga CorporationsĀ ā¢Ā 8m
I was listening to a podcast yesterday and found this so interesting, I had to share it with you. Okay !! Now !! . Let me tell you a story about Raj. He wanted to buy a house, so he took a ā¹30 lakh home loan. The interest rate was 8%, and he had 30 y
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WILL THIS WORK? I am planning to build an investment native social network and our goal is to: 1. Connect investors and facilitate knowledge sharing. 2. Educate users on investing and personal finance. 3. Empower informed investment decisions. 4.
See MoreChasing for infinityĀ ā¢Ā 1y
Hi what are your thoughts on Compound interest Let's say if I invest 10000 Rs every month for 40 years at an annual interest of 8% then after 40 years My invested amount = 48 lacs Money I will get = 3.51 cr But will it really be worthy with an a
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