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The Pros and Cons of Investing
1. The Pros & Cons of
Investing
Copyright Ellistrations 2018
2. What is Investing?
inยทvest
verb
expend money with the expectation of achieving a
profit or material result by putting it into financial
schemes, shares, or property, or by using it to
develop a commercial venture.
3. The Most Basic InvestmentโฆThe
Savings Account
A savings account is a time deposit
account. This means it earns you interest
on the money you deposit.
4. What is an Interest Rate?
It is the cost of using someone elseโs
money.
When you put your money into a bank, the
bank pays you for the use of your money.
5. Current Interest Rates
The best deal I found online was Marcus by
Goldman Sachs.
You only needed $1 to open and you
received 2.05% per year.
6. The Rule of 72โฆ
Letโs say you get a savings account that will
make you 5% (.05) a year. You can use a
calculation called the rule of 72 to see the
number of years it will take to double your
money.
Deposit $1000
72/.05 = 1440 Years