The power of compounding means that every extra year that your money is invested can have a big impact on the total that you will have saved for retirement. Chapter 5 “Your First Job and Entrepreneurship” in Financially Independent Teens presents a real-life example where $2,000 invested into the S&P 500 index over four years ($500/year in an IRA) starting at age 16 turned into more than $269,000 by age 65!
Check out our books on financial independence at https://parentsfin.wixsite.com/website/books or our books Raising Financially Independent Children, Financially Independent Teens, Financial Essentials for Couples Financial Essentials for Women by Women, and Financial Essentials on Amazon.
These books highlight important topics like those below:
·Difference between traditional and Roth IRA’s
·Importance of utilizing your 401K matches of ·Understanding your investment choices
·Understanding what a mutual fund, EFT, stock and bonds are
·Empowering yourself and your children be financially confident and competent
After you read the book, we would appreciate it if you would write a review on Amazon.
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