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What happens if you invest $10 every day

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lily
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How to get $100,000 in 20 years with as little as ten dollars a day (or $300 a month)
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Have you ever wondered what's going to happen if you invest $10 every single day? How much money would you have on your bank account in 20 years? How much of a passive income would that amount of money generate you every single year after you stop investing?

What is $10 in San Francisco? It is equal to one coffee and a croissant which sounds like an easy daily saving. If you are not based in SF and this amount of money means more than you can start saving as little as $5 every day, for example, because still in 20 years you're going to be able to generate a significant amount of money.

Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. Warren Buffet once said that he maid all of his money thanks to being born in America, some lucky genes and compound interest.

If you're interested in learning more about things that you can invest in, there is a great course "Understanding Investments" on The Great Courses Plus by Connel Fullenkamp, who is a professor at Duke University: https://www.thegreatcourses.com/courses/understanding-investments.html

The least risky way to save your money is to put them in a savings account but I wouldn't even call that investing because if you choose a good account, you will still end up getting 1.5% or 1.75% maybe 2% if you're lucky. I would still advise you to have some money in that savings account because we don't know what's going to happen tomorrow or in a week, and for me it's really important to have those savings that I know I can spend right away if something happens. Then, when you have money on such account, I would start to invest into riskier assets.

What is going to happen to your bank account if you invest $10 every day?
Nancy begins investing $10 a day at the age of 18. By the time she’s 40, she’s put aside about $80,000 into investment seeds. At 40, Nancy stops investing her money and begins spending her earnings on a bigger home, fancy cars, and lavish vacations. But, she doesn’t touch her investment funds. She lets that money grow and compound meaning she continues to reinvest those profits until she retires. At the age of 65, Nancy retires a millionaire.
Not only did she never invest another dime past the age of 40, but her investments actually earned a bit less than average (she got a 7% annual return on her money, which is less than historical average stock market or real estate returns).

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Time codes:
0:34 What $10 get you in San Francisco
1:34 What compound interest is and how it works
3:28 About The Great Courses Plus
4:41 Should you open a savings account?
6:31 What is going to happen to your bank account if you invest $10 every day

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