Save for a rainy day
May 9, 2024
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werejoan32@gmail.com
Kenya
Joined May 9, 2024
Envision your life as you want it to be
Hey there finance Enthusiasts .Today we're diving into a concept that's as fascinating as it is powerful .Compound interest .
Imagine you have a seed of an idea and you 're planting it today .Over time that seed turns into a sapling then a tree .Each year it grows a little bit more untill one day it becomes a towering oak .This is where compound interest comes in .The concept of your initial investment growing over time .
Think of it like this .
You start with Kes 990,000 in years (Which is Kes 82500 monthly for 12 months )The second year you have accumulated Kes 1,980,000 and you earn 12%return now you have Kes 2,173,880.The third year you have accumulated Kes 2,970,000 another return of 12% now you have Kes 3,413,080 and by the 12th year 2036 may you have accumulated Kes 11,880,000 another return of 12% p.a gives Kes 21,214,833.
Or you just do single premium of Kes 10,000,000 which in turn pays you 12% p.a and you have your 28,853,069 by 2036 may .See how the numbers keep rising! Year after year .Your investment grows more and more .
Compound interest can turn even the humblest begining into Sometimeys extraordinary.It's the reason why investing early in life is so important.It gives your money more time to grow and compound .
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Then sign up for Imarika savings plan .It's a digital savings wallet that helps you save for those medium to long term goals at your own way and at your own time .Whether it be daily ,weekly,or monthly ,you are in control.
From the first installment (Minimum Kes 1000)We begin investing your funds to earn superior returns of 8-12%p.a of the invested funds .In addition to this you qualify for a life insurance cover of Kes 50,000.
Minimum savings period 5 years .However you can do full or partial withdrawals at no charge from the 25th month .
No withholding tax is charged on the internet earned and tax relief is applicable with a term of 10 years and above .
Start small it you must but don't forget to plant that seed and watch it grow over time .Thank you for joining me today on this financial journey .
Don't forget to like and share this content on more financial tips to help us grow our wealth .
Untill next time,happy investing .