What does it mean to you to be wealthy? It means different things to different people. For me it means being financially free and being able to take care of at least 3 generations behind me. How do people become wealthy? One of their secrets is something called compound interest!
The basic definition of compound interest is earning interest on top of your interest. Sounds a bit confusing, but here's a simple example. If you take $100 and put it someplace that it would gain 10% of interest each year, at the end of the year you'd have $110 because you would have gained 10% on your original $100. Now the magic; At the end of the second year you'd have $121. So without you doing anything your money grows and grows each year. That's the power of compound interest!