How much money do you want to walk away with? How long is the money going to sit in the account? Will you make withdrawals? These will help determine how much you’ll earn and how quickly that goal will be reached. Sites like Investor.gov can help with baseline numbers.
All sorts of banks and lending institutions offer compound interest accounts. Look for one that suits your specific needs and goals and has a higher interest rate. The higher the interest rate, the better the return on your investment.
Compound trading takes an initial investment amount and trades currencies, either crypto or standard, every day. Doing this can significantly increase your return; however, it does come with a steep learning curve and requires daily dedication.
#5 Don’t Touch
Regardless of which direction you choose to take with your investment, try not to touch it. The longer the initial investment and all of that interest sit and continue to compound, the more money you’ll earn.
With as little as a few hundred dollars, Black folks can earn thousands quickly without the risk associated with so many other financial products. A small investment can turn into a life-changing experience. It’s about time we get that moment and that money.