This simple, easy comparison of compound versus simple interest rates includes two tips for maximizing the benefits of compound interest. Financial expert and author Adam Goodman also describes two surprising facts about compound interest…
Before the tips, a quip:
“Many of the biggest and most far-reaching investments we make in our lives are investments that have little or nothing to do with money.” – Daniel Quinn.
That said, most of us do invest our money in something – whether it’s our home mortgage, 401K or RRSPs, or mutual funds. For solid financial advice, click on The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey. And, read on for Adam Goodman’s description of compound and simple interest, and how interest rates affect investment decisions.Read More »How Compound Interest and Simple Interest Rates Work