213: ILAB 101 - The Incredible Math of Compounding Interest
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 20 January 2022
⏱️ 53 minutes
🧾️ Download transcript
Summary
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 @johnnyfdj
- 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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Copyright 2021. All rights reserved. Read our disclaimer here.
Transcript
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| 0:00.0 | What is up, bosses? Before we kick off this episode, I want to tell you about our sponsor this week. |
| 0:04.9 | 2022. It's a brand new year, but we're still talking about Indeed.com. In fact, they are our longest |
| 0:11.5 | running sponsor of the podcast. So we hope you'll give your support as well, especially if you're |
| 0:17.5 | hiring to build a team with the right skills to make your dreams a reality. |
| 0:22.8 | In fact, if you're hiring, you need Indeed, because Indeed is the hiring partner where you can |
| 0:27.8 | attract, interview, and hire all in one place. Indeed is the only job site where you're |
| 0:33.0 | guaranteed to find quality applications that meet your must-have requirements or else you don't pay. And one of the |
| 0:39.8 | things I really love about Indeed is that they have this thing called Instant Match, where it gives you |
| 0:46.0 | quality candidates as soon as you post a job. In fact, Indeed data says that over 90% of |
| 0:52.6 | employers get those candidates right away when they use instant match. |
| 0:57.0 | I'm going to tell you even more about Indeed during the break in the show. |
| 1:00.1 | But if you want to get started right now, just head over to Indeed.com slash I-Lab. |
| 1:05.0 | We're going to give you a $75-sponsored job credit to upgrade your job post. |
| 1:10.8 | Just go to Indeed.com slash I-L-A-B. Get your $75 credit. |
| 1:17.3 | That's Indeed.com slash iLab. Offer expires March 31st. Terms and conditions apply. Need to hire. |
| 1:24.7 | You need, indeed. Welcome to the Best Like a Boss podcast. I'm Sam Martz. |
| 1:29.5 | And I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology |
| 1:33.6 | to invest like a boss. Join us each week for exclusive interviews with our network of modern |
| 1:37.7 | investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash. |
| 1:45.6 | What's happening in Boss's episode 213 of the Invest Like a Boss podcast? |
| 1:51.0 | I am Derek Sparts joined here in Los Angeles. |
| 1:54.5 | Sam Marks is on the other end out in Barcelona, Spain. |
... |
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