High-yield savings and compound interest: What savers should know now One of the benefits of savings accounts is that they earn interest.

Compound interest accounts like savings accounts, MMAs, CDs, bonds and more can help you grow your money faster.

Here's how compound interest can help you retire a millionaire Everyone's idea of what a modest income is can vary, but let's use the median household income reported by the 2023 U.S. Census ...

A miracle generally involves something that can’t be explained by science, or maybe even the supernatural. Compound interest might not fit that definition of a miracle, but it’s pretty darn close.

Einstein's observation The quote, "Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it," is often attributed to Albert Einstein.

If you're new to the idea of how compounding interest works, here's a quick overview and how it can help you retire as a millionaire, even while earning a modest income. Image source: Getty Images.