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Financial Tip of the Day:The Power of Compounding

By Drew Kessler Albert Einstein called compounding interest the eighth wonder of the world. When compounding works for you it’s wonderful. A small amount of money adds up quickly because you earn interest not only on the money you have deposited in the bank, but also on the interest you have previously earned. There is a trick though. You only continue to earn interest on interest as long as you keep your money in …Read More

The Power of Compounding

By Jason Alderman Senior Director, Global Financial Education, VISA I wish I had learned about the power of compounding a long time ago. As a kid I walked dogs in the neighborhood, earning $5 a week. If I’d started investing that weekly $5 from age nine until 65, it would have grown to $254,000, assuming an 8 percent return. Unfortunately, I didn’t catch compounding fever until much later. Because money …Read More