compounding

  • investment growth as a plant

    TikToker Shows How Much Money You’ll Have Investing 15% Of $40,000 Over 40 Years

    In under a minute, Mikey plugs the numbers to explain how this makes you a multimillionaire: $6,000 a year grow at an average historic interest rate of 10% in a Roth IRA comes out to $3,000,000 in savings.

    Compound interest shouldn’t be thought of as a mystifying phenomenon. It’s not magic – just healthy financial habits applied to practice. It’s really just the following factors coming together for one’s wealth-building: Basic math Personal savings discipline Utilizing the proper…