))
#31 - Compound Interest: What is Compound Interest, how does it works, and how does it compare to simple interest?
Manage episode 431414664 series 3530453
Content provided by Ryan Nelson & Aaron Hoisington, Ryan Nelson, and Aaron Hoisington. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Ryan Nelson & Aaron Hoisington, Ryan Nelson, and Aaron Hoisington or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Unlock the secrets to financial growth with Ryan Nelson, founder of Alchemy Wealth Management and author of "Your Fiscal Physical." Ryan breaks down the concept of compound interest through straightforward examples, like how a $10,000 investment at a 10% return can snowball into significant wealth over time. By tuning in, you'll gain a foundational understanding of how compound interest works and why it's a game-changer for long-term financial planning and investment strategies.
We'll also dive into the compelling comparison of two hypothetical investors, Ben and Joey, showcasing the monumental benefits of starting early. Ryan shares nuggets of wisdom from Albert Einstein, who famously called compound interest the "eighth wonder of the world." On a more personal note, we reflect on our proudest accomplishments and even have some fun with trivia about Warren Buffett's incredible net worth. This episode is packed with valuable insights and practical tips to help you master financial literacy and harness the power of compound interest.
…
continue reading
We'll also dive into the compelling comparison of two hypothetical investors, Ben and Joey, showcasing the monumental benefits of starting early. Ryan shares nuggets of wisdom from Albert Einstein, who famously called compound interest the "eighth wonder of the world." On a more personal note, we reflect on our proudest accomplishments and even have some fun with trivia about Warren Buffett's incredible net worth. This episode is packed with valuable insights and practical tips to help you master financial literacy and harness the power of compound interest.
Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk
If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com
And, as always, STAY THE COURSE!
Chapters
1. #31 - Compound Interest: What is Compound Interest, how does it works, and how does it compare to simple interest? (00:00:00)
2. Understanding Compound Interest Growth (00:00:01)
3. The Power of Compound Interest (00:11:26)
4. Life's Proudest Achievements and Financial Growth (00:18:17)
84 episodes
Share
