Shownotes Transcript
Sam and Derek take it back to basics with a special episode on the incredible math of compounding interest. They'll show you how anyone can passively become a millionaire with a little disciplined investing and time. This is an evergreen topic that has proven itself for decades and should apply to anyone for the foreseeable future. Make sure to share this one with family and friends who are new to investing or have yet to start!
Listen to ILAB 213 on iTunes) here or subscribe on your favorite podcast app.
Where we are:
- Johnny FD – Ukraine / IG @johnnyfd)j
- Sam Marks – United States / IG @imsammarks)
- Derek Spartz – Venice Beach / IG @DerekRadio)
Sponsor:
- Indeed)Receive a $75 credit for a sponsored job post when you visit Indeed.com/ILAB)
- Support Invest Like a Boss: Join our Patreon)
Discussed:
- The Power of Compounding Interest ILAB Article:* *)
- Compounding Interest Calculator: )
- Updated for 2022 "Get Started Here" Page for Invest Like a Boss:)*** ***
Like these investments? Try them with these special ILAB links:
- ArtofFX) – Start with just a $10,000 account (reduced from $25,000)
- Fundrise) – Start with only $1,000 into their REIT funds (non-accredited investors OK)
*Johnny and Sam use all of the above services personally.
Time Stamp:
- 06:32 – Quick background on Johnny Sam and Derek
- 11:05 – Establishing the actual financial dream
- 12:08 – Warren Buffett investment advice
- 14:08 – Albert Einstein compound interest quote
- 15:12 – What is Compounding Interest?
- 16:25 – Models of Compounding Interest
- 21:27 – Derek’s problem with Sam’s Chart
- 24:30 – The solution to the problem
- 31:23 – Johnny’s advice and tricks
- 39:50 – Index funds
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