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Update Rule “maximize-superannuation-benefits/rule”
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stephanfakossw committed Oct 25, 2024
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Expand Up @@ -32,7 +32,7 @@ You may have heard people say that the sooner you start saving, the better off y

Compound interest occurs when your initial investment earns interest, and then that interest also earns interest. Over time, this snowball effect can significantly increase your returns. Since Superannuation is a long-term investment, the impact of compound interest can multiply your funds over decades.

If you would like to find out more on the types of interest, check out Investopedia’s website.
If you would like to find out more on the types of interest, check out [Investopedia’s](https://www.investopedia.com/articles/investing/020614/learn-simple-and-compound-interest.asp) website.

Most financial institutions will apply compounding to your investment without the need for you to explicitly ask for its activation.

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