This week Eddie and Matt take a look at compounding. Just think of it as a way to put money away and sit back and make money while doing nothing! It’s a concept that many of us may know, but we don’t truly understand; which is the impact of compounding. Today Eddie and Matt try to provide examples that help to clarify the impact of compounding. Along with the positive impact that starting early and saving frequently can have on the outcome.
Here are some questions that get answered within the podcast:
- Would you rather a $1 million today or double your pennies every day for 30 days?
- Who has more money: a 20 year old who saves for 10 years or a 30 year old who saves for 30?
- Why Ben Franklin is really a genius!
And Eddie has a coupon for us that will make even a grown man relax for a little!
Matt dives into what’s going on in China and why we all need to actually pay attention to it over the long term.
Take a listen.
Here’s to continuing to create Wela!