Generational Wealth for Dummies💰

Money hack I bet you didn't know, part 21. Generational wealth for dummies. As always, we're going to our handy-dandy compound interest calculator, and this is the exact calculator app that I use. Once you're inside the app, you're gonna go click that corner calculator. It has a ton of different calculators. Compound interest calculator. You're gonna start at a $1,000 principal, putting $50 per month for for the first 18 years of your child at a 10% rate of return, it's gonna generate you after 18 years $36,000 and change. What you're gonna do is you're gonna take the $36,000 and change, plug it in as a principal amount, put no more money in addition to that for the next 47 years at 10% rate of return. Your child is going to have almost $4 million. Be sure to talk to your financial advisors or planners, but these are some of the index funds that's been doing