___
DISCLAIMER: Ryan Scribner, including but not limited to any guests appearing in his videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Ryan Scribner’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.
AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.
HOLDINGS DISCLOSURE: …(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
Compound interest is a powerful financial tool that can help individuals boost their earnings over time. By allowing interest to be calculated on both the initial principal and the accumulated interest from previous periods, compound interest can significantly increase the growth of investments and savings accounts. Here are three ways to take advantage of compound interest to boost earnings:
1. Start Early and Stay Consistent: One of the most effective ways to maximize the benefits of compound interest is to start investing or saving as early as possible. The longer your money has to compound, the greater the impact on your earnings. By consistently contributing to your investment or savings account and allowing the interest to compound over time, you can significantly increase the amount of money you have in the long run. Even small, regular contributions can make a big difference when compounded over many years.
2. Reinvest Dividends and Returns: When investing in stocks, mutual funds, or other vehicles that pay out dividends or returns, it’s important to reinvest those earnings to take full advantage of compound interest. Instead of taking the dividends as cash, reinvesting them back into the investment allows them to compound alongside the original principal. Over time, this can lead to substantial growth in the value of the investment and ultimately increase your earnings.
3. Take Advantage of Tax-Advantaged Accounts: Utilizing tax-advantaged accounts such as IRAs (Individual Retirement Accounts) and 401(k) plans can help boost earnings through the power of compound interest. These accounts offer tax-deferred or tax-free growth, allowing your investments to compound without the drag of taxes. By taking advantage of these accounts, you can maximize the impact of compound interest on your earnings and potentially build a larger nest egg for retirement.
In conclusion, compound interest has the potential to significantly boost earnings over time. By starting early, staying consistent with contributions, reinvesting dividends and returns, and utilizing tax-advantaged accounts, individuals can take full advantage of the power of compound interest to grow their investments and savings. It’s important to remember that the longer your money has to compound, the greater the potential for increased earnings, so it’s never too early to start taking advantage of compound interest.
Straight to the point no fluff wish more ppl would be like you, brilliant thank you.
You explained this very well! Thank you so much!
Appreciate this help bro
How do I start investing in compound interest ? I don’t have a clue, do I need a consultant? TIA!
great video. thanks really useful
in my country Interest rate is 15.70
Where do I invest my $100k to earn compound interest?
Are Mutual Funds good?
Stock and dividend
Yes I’m understanding, but where? I’m need specifics? I can easily look up best stock to invest in.
Is this video about compound interest?
Hello Ryan, i want to buy some ETF like sp500 and vanguard for earning dividend. however, as a foreigner, there are some tax charges while receiving the dividend. should i keep invest ETF until the amount of capital and dividend big enough to cover the tax. or just change the game?
For another country,which is best trust investment
thanks for the video… In India , CD's or FD's are earning 6.5% interest annually right now.. so compound interest really adds up in 10-15 years here… the longer the better.. as you mentioned, The snowball effect.
Where can I get the source
So let me get this straight, by Vanguard as an example. If you toggle "Accumulation" instead of "Income" on the fund page, you essentially toggle compound interest ?
Can you do all 3 ways?
"If only statesmen had been compelled to study law of the laws of Compound Interest, the fate of the whole human race might have been very different." – William Joyce, "Twilight Over England", 1940
"If only statesmen had been compelled to study law of the laws of Compound Interest, the fate of the whole human race might have been very different." – William Joyce, "Twilight Over England", 1940
Dude you've got to prime those patches on the wall before you paint, or you'll get those shitty looking spots (flashes) on your wall.
Can you do at 18 years old?
Finally something helpful!!
Thank yoooooou
Great Stuff!
Everyone loves to talk about how great compound interest is very few talk about how to get it
I like Darwin from SeaQuest.
You talk extremely slow
What bank has 8% interest?
How do i get started with compound interest investing? Is there an app or website?
This video brought me a lot of value, thank you for this
Which banks do it Canada?
If the interest is PAID each year, there is no need for compound interest. The paid interest can be reinvested or used for any purpose. Your best bet is to make that interest TAX FREE.
If only it was that simple…. Between 2000 and 2010, the S&P500 hardly grew so compound interest doesn’t always work. It seems to be the new F I R E thing and is quite misleading.
My favorite method of earning compound interest is in Crypto by staking on Compound, AAVE, Ledger wallet or Exchanges. I don't recommend to stake on Exchanges because of security reasons like they get hack you lose everything and people in crypto knows Exchanges get hack everyday that's why is great to move your crypto from an exchange unless you want to take the risk to leave it there if you only investing less than $50, you lose it you don't get made because it's not alot.
Great video. I learned a lot thanks.
My jobs retirement program matches me 100% up to 7% of my check I so I currently do the max 7%
Start the video at 5:00. You’re welcome
I decided to check out your links because I wanted to see if you offered any books or courses, and I was blown away. You have so many, and most of them are free. I'm very excited to check them out. Thank you for what you do.
I’ll get my account to $100K. Then compound it with stocks. That’s how money grows. I’ll be 35 by then. The thing about schools is, they don’t teach people these things. They’ll teach you how to get a job and pay taxes.
Great video. Made it very simple to understand