People spend too much money on things they don’t need. If you save that money and invest it long term, the power of compounding becomes enormous.
For example, if you save $100 per month, that’s $1,200 per year and $24,000 over 20 years. If you invest that at 8% annually for 20 years, you’ll end up with around $58,000.
Small amounts may seem insignificant, but over time, they really add up.
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Kevin O’Leary: Why Most People Stay Broke
People spend too much money on things they don’t need. If you save that money and invest it long term, the power of compounding becomes enormous.
For example, if you save $100 per month, that’s $1,200 per year and $24,000 over 20 years. If you invest that at 8% annually for 20 years, you’ll end up with around $58,000.
Small amounts may seem insignificant, but over time, they really add up.