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The Breakdown with Shaun King

Ep. 447 - Where the Money Resides: Compound Interest

The Breakdown with Shaun King

The North Star

News, Society & Culture

4.812.6K Ratings

🗓️ 27 April 2021

⏱️ 58 minutes

🧾️ Download transcript

Summary

Chances are, you've heard of the term "compound interest," but do you know how it really works? If not, you're in the majority: 69% of Americans don't understand it. Compound interest is the "magic pill" that converts your "modest savings" into massive wealth. Through the power of compound interest is how most "everyday" people become millionaires. On this episode we are breaking down how compound interest
works and how to make it work for you--at any age.

Transcript

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0:00.0

Hey everybody, it's Sean and I just had a wisdom tooth pulled that was giving me a ton of trouble

0:07.0

and I felt okay yesterday when I had it pulled but today it's starting to really hurt.

0:13.0

So my dear friends Tiffany and Allen of the Momentum Advisors podcast are taking over today's episode

0:21.0

with one of their most popular, most informative financial advice episodes

0:27.0

called Where the Money Resides. All right, I want you to check it out.

0:32.0

I learned a whole lot and I just have to confess to you all.

0:36.0

I didn't grow up learning much about how to manage money, how to spend money, how to save money.

0:45.0

It just wasn't a topic in our house. I had a sweet single mother who worked at a light bulb factory

0:53.0

who paid her bills on time. I learned that. But that's really all we got.

0:58.0

We got work ethic. But now that we're adults and is 2021,

1:03.0

we need to learn the hard skills on what it means to manage your money.

1:07.0

And so this episode I think no matter where you are in your financial journey,

1:11.0

it's going to be super insightful for you. Remember, you can always go to Apple Podcasts or Spotify

1:17.0

or any other podcast player and subscribe to the Momentum Advisors podcast with Tiffany and Allen.

1:24.0

They are brilliant, brilliant, brilliant financial advisors and even better people.

1:30.0

Check it out. Hope you enjoyed today's episode.

1:59.0

Hello, hello, yo, yo, we are back again. Yes, we definitely are.

2:04.0

We're in the house. We're in the building. Remember that show with Elle Kuja?

2:10.0

Yes, and Maya Campbell. Yeah, things didn't work out well for her.

2:15.0

She was a banger in those days. And God bless her wherever she is.

2:18.0

Yes, however, it's working out. She had some rough years.

2:23.0

But we are here. Yes, we've got things to talk about. It's April, like spring has sprung.

...

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