The Power of Compound Interest
Compound interest is your friend – It’s simply interest earned on your interest. For example, when you receive interest from a saving or investment and you reinvest that interest instead of withdrawing it, the time your interest will be calculated on your original savings plus the interest you’ve received. So your next interest payment will be higher and so on and so on.
To find out more on how your savings/investments can build up faster and work harder for you – click on the following link: Power of Compound Interest
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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.
Financial Advice Sydney and the North Shore Office based in Lindfield NSW