Description
In this episode of Money Made Simple, Jennie and Liv explain how compounding returns (including compound interest) work, and why compounding is such an important financial concept to understand. So magical, in fact, that Albert Einstein called it the "eighth wonder of the world". Go figure!
This episode covers:
A simple explanation of how compounding returns workAn example of how compounding can work in terms of interest on your bank balance vs investment returnsHow compounding can work against you, via interest on debtWhy time in the market (aka get saving, earlier!) is such a good way to take advantage of compounding returnsResources we mention in this episode:
- sorted.org.nz
- simplicity.kiwi
- moneyhub.co.nz
We hope you can walk (or dance) away from this episode with the knowledge and confidence to get compounding returns working for you, and minimise the impacts of compounding debt that work against you.
---
Please help us share the good word (and make Kiwis richer and smarter with money) - the more we grow, the more good we can do %) Don't forget to follow, subscribe and rate the podcast if you found it useful!
Find us:
Instagram
Facebook
LinkedIn
Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.
In this episode of Money Made Simple, Jennie and Liv get cozy on their new podcast couch (very exciting!) to tackle a topic that affects us all: generational differences in mindset and money habits. From bearish Baby Boomers to easy-go-lucky Gen Z's, they explore the unique challenges, triumphs,...
Published 11/24/24
In this episode of Money Made Simple, join Liv as she chats with well-being and resilience guru Brad Hook. He provides a bunch of insight and tips on mastering your money mindset and aligning your spending with your values. They dive into ways to mange stress and prevent burnout, and the link...
Published 11/10/24