Part 3/8:
One of the key advantages of reaching $10,000 is the compound interest that begins to work in your favor. Often termed the "eighth wonder of the world," compound interest allows your money to earn money. For example, if you invest $11,000 a year at a 7% return, hitting that first $10,000 solidifies the groundwork for your wealth-building journey. Instead of taking 15 years to reach $20,000, this process speeds up significantly as your initial savings begin generating interest.