By David Wentz
Investing at a young age can set the stage for long-term financial success. Whether you’re a recent graduate, a teenager with a part-time job, or even a preteen with a small allowance, starting early offers unique advantages that can compound over time. In this article, we will explore why getting started early with investing is essential and provide practical tips to help you embark on your investment journey.
The Power of Compound Interest
Compound interest is often referred to as the eighth wonder of the world, and for a good reason. It is the concept of earning interest on both the principal amount and the accumulated interest over time. By investing early, you allow your money to grow exponentially. The longer your investment horizon, the more time your investments have to compound, potentially generating substantial wealth in the future.