Make $11,000 out of JUST $100!
Hi there,
The power isn’t in how much money you have but in what you DO with it.
There are so many people who have crazy salaries each year and yet they wonder where their money is at the end of every week.
On the other side of the spectrum, there are people who earn significantly less who have made smarter money decisions, leading them to start their wealth journey.
Stop thinking that it starts with something like $100,000.
Start small.
Let’s start with $100.
Let’s say you invested $100 every 2 weeks for 10 years.
For example, let’s say the annual interest rate is 7%.
Compound interest will have added an extra $11,603 to your savings.
That’s just $100!
Think bigger again.
$1000 every month. 10 years.
$54,094 has been added to your savings due to compound interest.
You’d have $175,094 extra dollars to your name!
If you are in your early 20s right now, think of this as your house deposit in the making!
The more time you give yourself the better.
Let’s go back to just $100 a fortnight.
Recommended by LinkedIn
If we extended that time to 20 years, you would be looking at an extra $61,171 from compound interest.
Isn’t that amazing?!
So stop delaying and let’s make smart money choices.
Start small when investing, then increase where you can.
Invest in ETFs. Invest in bonds. Invest in your superannuation.
The second best time to invest is right now.
(The first is yesterday, sadly!)
Until next time.
Steve.
--------------------------------------------------------------------------------
PS: Whenever you're ready, there are three ways I can help you…
1. Did you know that every year, Australians are paying their bank thousands of dollars more than they need to on their mortgage? Many folks don’t realise they’re sitting on home loans year after year that are not the best fit for their situation.
If you want to know if this might be you, book a free 15-min call with our mortgage broker Eddie and he can make sure you’ve got the best loan for your situation
2. Also, if you haven’t seen the latest video trainings our team has done on:
- How to get started as a first-time investor
- How to make buying a home easier
- How to give your kids a financial head start
- How to work out where all your cash is going
- How to make the most of your superannuation
- How a mortgage broker can save you thousands
You can find all 6 videos here:
3. And if you ever want to get some 1:1 help with your personal finances, we can jump on the phone or on Teams for a quick clarity call and find out where you are right now, where you want to be with your money and lifestyle, and if we can help or not.
We can then make a roadmap for the next best step for you to take to get closer to your financial independence.
General advice disclaimer: The information contained within this post is general in nature and does not take into account your personal circumstances. Please reach out if you wish to discuss your personal situation.