Month: December 2019

What’s the Difference Between Compound Interest and a Compound Fracture?

Tom Kjar

That’s a dumb question but it got your attention.

Compound interest has been around a while. It is thought to have originated in 17th century Italy. Think of compound interest as interest paid on interest. In other words, interest calculated on the amount of money you save or invest along with all of the interest you previously earned. Compound interest will make money grow at a faster rate than simple interest, which is calculated only on the amount invested or saved.

Where things really get “interesting” (lame pun intended) is when you let your investment grow for a long time. Check out the example below.

Starting at age 25 Susan invests $50,000 over 10 years and ends up with more money at retirement than Bill who started 10 years later and invested 3X as much over 30 years. How’s that possible? Compound interest.

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Remember the Clown Car and All the Clowns that Climbed Out of it?

Tom Kjar

You’d never guess all those big noses and giant feet and exploded hair could get stuffed in that tiny, little putt-putt, but somehow they did. Looks can be deceiving.

It’s that way with us, Creighton Federal. You’d never guess, standing outside our main branch at 25th & Dodge or any of our other branches, so much free help and money saving wisdom for members is packed inside, weighting to be put to work. But it is.

I sure hope those clowns showered before they stuffed themselves in that little car.

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