January 10, 2024

Luke on 2CC – Compound interest, time is your friend!

17 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 5 January 2024 with Ron Henshaw. Leon’s still on holidays but will return next week. Happy new year to our listeners! Thanks for joining us on 2CC or your favourite podcast streaming service. This week’s show looks at compound interest and the terrific impact it can have on investment returns over time.

Key topics covered include:

What can you do for your children or grandchildren (or perhaps yourself)?

Compounding interest might be the answer!

Can you automate your savings behaviour?

What does $5000 look like over 10 years, with $50 a month savings as an example?

Of course returns over time will change, but compounding still occurs over time

Many people don’t think long term, many people also don’t think multi-generational wealth outcomes

Where might you save or invest? Remember all investments have risk!

How do you start?

Additional resource – check out the Money Smart Compound Interest calculator.

Luke shares his top tips around saving and compounding interest

https://www.envisionfinancial.com.au/wp-content/uploads/2024/01/The-Strategy-Stacker-Luke-Talks-Money-05012024.mp3

Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Are you thinking about saving into an investment in 2024?

Time is your friend. The sooner you start the more you can benefit from compound interest over time. If you need financial advice, make an appointment to speak with Luke.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ soon. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Luke’s book Smart Money Strategy is out now.

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By Luke Smith