What is compound interest? Simply put, it is a powerful force that allows someone to invest a sum of money today that will grow into a much larger amount. Compound interest is sometimes described as “interest on interest.” It means earning interest on your original principal—plus on the interest your investment generates.
If the idea of watching your money grow interests you….did you know you can contribute monthly to your LPL Investment account, even as little as $25/month?
Use the calculator below to illustrate the potential impact of compound interest on the future value of an asset.
Learn how Ben Franklin harnessed the power of compound interest for his investments: