"Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it" - Albert Einstein?
If you had $1,000 and then invested $1,000 a month at a 10% average annual return
- In 10 years you would have invested $121K and have a total balance of $207.6K
- In 20 years you would have invested $241K and have a total balance of $766.7K
- In 30 years you would have invested $361K and have a total balance of $2.3 Million
- In 40 years you would have invested $481K and have a total balance of $6.4 Million
Compound interest is cool