Compound Interest
Compound interest is the most powerful investment tool available to the prudent patient investor. Perhaps that's why Albert Einstein called compound interest THE 8TH WONDER OF THE WORLD!
For years Fisgard's investors have unleashed the phenomenal power of compound interest on their simple stress-free investments, with outstanding results.
Compound interest at work
John opens a TAX FREE SAVINGS ACCOUNT ( TFSA ) when he is 18 years old, and contributes $50 every two weeks until he is sixty,by which time he will have invested $54,600. Powered by compound interest, his savings will have grown to an incredible $184,543! If he then decides to leave the money in his TAX FREE SAVINGS ACCOUNT he will be able to withdraw $988 every month until he is 90.
* The above calculation is based on a 5% return for illustration purposes only.