This video will dive into a financial secret that has the potential to exponentially grow your wealth over time. This secret is none other than the power of compound interest - a concept that unfortunately, many people don't understand or use to their advantage. We've found that over 69% of Americans don't really grasp the difference between simple interest and compound interest, which is why we're here to bridge that gap. Free Google Sheet: https://docs.google.com/spreadsheets/d/1pwLFCov1Fno_SP8yEx2W6_Sx3uRgwkKqxqm2UBeTvYA/edit?usp=sharing Investor.Gov Interest Calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator Check out this Video Next: https://youtu.be/gVKMoyqpV0g STUFF I RECOMMEND!* Investing Apps and Tools: 🤑 Robinhood App - Get A Free Share of Stock valued between $2.50 and $200 Just for Starting ► http://sweetlifesuccess.com/go/robinhood 🐂 Webull App - get up to 12 free stocks (limited time) ► http://sweetlifesuccess.com/go/webull 💰 Seeking Alpha - get the best research tools to stay ahead in your stock and ETF research. Receive 50% off on a Premium Membership ► http://sweetlifesuccess.com/go/seekingalpha 💰 Track Your Dividends ► https://sweetlifesuccess.com/go/dividends Credit Cards & Credit Score: 💳 Apply for an American Express Card with this link. We can both get rewarded if you're approved ► http://sweetlifesuccess.com/go/amex The video begins by reflecting on the financial education, or lack thereof, most of us received during our school years. The absence of financial literacy lessons, particularly around investing, leaves many people in the dark about how to create wealth. In this video, we demystify the concept of compound interest, breaking it down into simple, digestible terms. Using the magic of compound interest, we show you how your money can work for you to create significant wealth over time. We talk about how unlike simple interest, compound interest can make your investment grow at an exponential rate, as the interest you earn begins to earn interest on itself. We have provided a Google sheets tool that simplifies the complex formula of compound interest. All you need to do is plug in your numbers, and it will automatically calculate your potential future earnings. This includes factors such as your initial investment, your interest rate, your compounding frequency, and the period of your investment. One of the key points we discuss is how much money you're going to invest initially, and how that grows over time. We illustrate this by considering a hypothetical scenario where you invest $10,000 with an interest rate of 10% - chosen due to the historical average return of the stock market. We also discuss how different your investment growth could be when comparing compound interest to simple interest. The power of compounding truly shows its magic here, making a significant difference to your wealth in the long run. By the end of the video, we guarantee that you will have a better understanding of how to use compound interest to your advantage. With practical examples and easy-to-understand explanations, we hope to empower you to take control of your financial future. We guide you through creating an investing plan that includes regular contributions to your investments over the years. Check out the link in the description below to access the Google sheets calculator that we used in the video. With this tool, you can plug in your own numbers and see the magic of compound interest at work for your personal financial situation. Here it is: https://docs.google.com/spreadsheets/d/1pwLFCov1Fno_SP8yEx2W6_Sx3uRgwkKqxqm2UBeTvYA/edit?usp=sharing #averagetoamazing #financialfreedom #investingforbeginners In this video, we're going to learn all about compound interest. We're going to explore the power of compound interest and see how it can help you achieve your financial goals. If you're interested in learning about compound interest, then this is the video for you! In this video, we'll explore the power of compound interest and see how it can help you achieve your financial goals. We'll also learn about the compound interest formula and how you can use it to invest your money. So be sure to watch this video and learn about the power of compound interest! *Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.