Do you know the difference between Simple Interest vs Compound interest? This can play a big factor in life in the long run. Another question I usually ask is that if you are receiving or paying Compound interest, and a lot of my clients sometimes overlook this matter. I always ask them to check for their mortgages, credit cards, since over the year you are basically paying interest on top of more interest compounded, this could to a very nasty spiral and a great deal of stress in the future for some. This one fundamental concept I recommend everyone to check on how to receive this for yourself, as it can also be a beneficial tool for retirement and wealth creation if structured properly. This can help out place inflation and grow your investments.
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