Congrats! You won the lottery! ๐ You get to choose between two prizes:
1) You get $1 million right now.
2) You get a penny that doubles each day for 30 days.
Which one would you choose?
After 30 days, $1 million is, well, $1 million ๐ช
On the other hand, a penny that doubled every day for 30 days becomes over $5.3 MILLION ๐ต
This is because of compound interest.
Compound interest is a superpower that makes your money grow faster and faster over time ๐ก
The earlier you start, the more compound interest can grow your money ๐ต
For example, if you started doubling that penny just 5 days earlier, it would have become $172 MILLION!
Stocks can grow from compound interest, so starting with small amounts can become LARGE over time.
Bloom offers a tool that shows you how much money you can make by investing -- try it out here: Potential Return
Choose an option
Money grows faster and faster over time
Interest rates decrease
Return rates stay stagnant
Inflation matches ROI
money you'll lose
compound interest can grow your $$
risk you expose yourself to
market fluctuations you miss
stocks
your salary
inflation
ROI
Risk vs. Reward
Diversification
Intro to ETFs