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.

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.

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

The Power of Compound Interest: How to Turn Small Investments Into Big Wealth The key is understanding how it works and how to maximize its potential to build financial security.

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 ...