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Originally Posted by Broken Arrow
I stand firm in the belief to save as much and as early as I possibly can.
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The "start early" advice is incredibly important. Just look at a simple example.
A: Invest $1,000 in stocks at age 25. Get an annual return of 10%. At age 65, you will have $53,700.
B: Invest $1,000 in stocks at age 45. Get an annual return of 10%. At age 65, you will have $7,300.
C: Invest $5,000 in stocks at age 45. Get an annual return of 10%. At age 65, you will have $36,600.
The point is that if people would start early, they wouldn't need to save nearly as much as those who wait until later to start thinking about retirement. The person who waits to get started may never be able to catch up with the person who started early, even if the late starter invests a lot more money.