I am sure many of you have heard either in the news, through others, or from your own personal experience, people are not saving enough for their future. There are many barriers to people saving, but financial literacy is definitely a big reason. Many do not understand the basics of compounding interest over time, or they underestimate how dramatic this effect is. Below are are some infographics to show how saving earlier and even modest increases in savings can yield big returns.
Hopefully, this illustrates how time can make modest sums grow exponentially. Even if you are aware of this, this could serve as a reminder or a nudge to invest. While there can be risks with different investments, there is also the risk of missing out on these gains. Do not just take my word, speak to a financial advisor or do your own research on investing. Good luck taking this step towards financial wellness!
Hope this helps,