🤓 It's never too late to start, but start 🔜!
Compound interest means earning interest not only on your initial investment, but also on the interest that investment has already earned, making your 💰 grow faster over time.
💰💰💰 In this chart, with a deposit of $1k every year and a compounding 7% annual return on that, the result is either $213k or $101k depending on if commenced at 25 years or 35 years old. The saved difference is only $10k (10 yrs x $1k). Massive difference!
*Note: Not financial advice. Also doesn't account for inflation or volatility of interest rates, income over time etc. This may not be a "real life" scenario but it's a great demonstration of tangible evidence to start earlier!
Truly Finance's advice, financial services and property strategies are generally complimentary. We do this for the best interests of our clients and we relentlessly strive to be the best mortgage brokers!
James Brett. Principal Mortgage Broker ☎️ 0439 591 759
Victor Simone. Principal Mortgage Broker ☎️ 0438 257 888
Andrew O'Brien. Senior Mortgage Broker ☎️ 0451 308 292
Nermalee Bowe. Senior Mortgage Broker ☎️ 0431 274 554
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Credit Representative Numbers 521733, 550284, 550765 & 547037 are authorised under Australian Credit Licence 389328
