Tag: compound interest
-
Exciting Updates to 401(k) and IRA Limits for 2025
Great news for anyone looking to start—or boost—their retirement savings: 2025 is shaping up to be a year where you can stash even more for the future. The IRS has upped the contribution limits for 401(k) and IRA accounts, giving people more breathing room to grow their nest eggs. Limits keep up with the cost…
-
Why Setting Up Your 401(k) Early is Essential
When I first started working, I didn’t think too much about my 401(k), but I’m so glad I enrolled right away—it made a huge difference. That retirement money has the most time to grow, thanks to compound interest. If your employer offers this benefit, taking advantage of it early can help you build a strong…
-
The Power of Compound Interest When Investing
We’ve heard of compound interest, and while it can work against you in debt, it’s a game-changer when it comes to growing your savings. If it feels overwhelming, don’t worry – the key is simple: compound interest helps your money earn even more money over time. In our community, where many of us are cautious…
-
The Challenge of Compound Interest When Borrowing
Historically, we tend to talk about “compound interest” as a positive concept when saving money. This post focuses on the other side – the negative power of compound interest. We will speak to the crippling impact of compound interest when taking on debt, using credit cards as an example. How Credit Card Debt Works Imagine…