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!
Our books on financial independence 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 to be financially confident and competent
To learn more about retirement and the power of compounding check out our books on financial independence at:
Financial Independence Essentials
Financial Essentials for Women by Women
Financial Essentials for Couples
Raising Financially Independent Children
Financially Independent Teens
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