At Onu, our goal is to help you create generational wealth for the children in your life. By starting early, you have more time to grow your investments.
It is said that millionaires are made in their 20s and 30s by saving to invest and that these years are key for building wealth for retirement. Now that we have more information and resources, we can get ahead of this curve. Giving the gift of Onu creates financial security that will put the little ones in your life ahead: freedom from crushing student loans, the ability to travel or retire early, and the quality of life that comes from having everything they need.
With compound interest, you can grow your money over time. Investopedia provides us with a comprehensive explanation and formula to understand and calculate your compound interest:
Compound interest can significantly boost investment returns over the long term. While a $100,000 deposit that receives 5% simple annual interest would earn $50,000 in total interest over 10 years, the annual compound interest of 5% on $10,000 would amount to $62,889.46 over the same period. If the compounding period were instead paid monthly over the same 10-year period at 5% compound interest, the total interest would instead grow to $64,700.95.1
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This information is educational, and is not an offer to sell or a solicitation of an offer to buy any security. This information is not a recommendation to buy, hold, or sell an investment or financial product, or take any action. This information is neither individualized nor a research report, and must not serve as the basis for any investment decision. All investments involve risk, including the possible loss of capital. Past performance does not guarantee future results or returns. Before making decisions with legal, tax, or accounting effects, you should consult appropriate professionals.