show and tell 330 rule of 72

show and tell 330 rule of 72 - Disclaimer Money will not...

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Disclaimer: Money will not buy you happiness The rule of 72! Invest while you’re young! No matter how much money you invest later in life, you just can’t catch up the amount that you’d earn if you started investing in your 20s. According to Patrick O’Shaughnessy at Millennial Invest , each dollar you invest at age 22 will be worth over $17 at the time of your retirement . We’ll do the math for you: invest $1,000 at age 22, it’ll be worth $17,000 when you retire. You’ll never get that much return on your investment at any other age. Compound interest, snowball affect. This isn’t to say don’t work hard or that money is everything, but Unless you come up with a great idea, become really successful in what you do (which most of us are average, no offense), or hit the lottery, you’ll stay at a mid income range your whole life. (this isn’t a bad thing by the way, but if you realistically
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Unformatted text preview: want more money, inves²ng is the way) More pro³table than bonds. Way more pro³table than a savings account which has like a .03 interest rate. Even if you have loans to pay at a 3% rate, the s&p 500 grows consistently faster than that. More pro³table than social security (which might disappear if republicans get their way). And much more pro³table than star²ng to save in your mid thir²es. And if you save enough at a young age, you could even re²re earlier or just overall have less stress about having money. Most people wait ²ll their late 30’s/40’s to start really saving their money, and by then they are playing catch up and won’t have nearly as much as you would have if you started saving and inves²ng in your 20’s. Slow and steady wins the race. Markets sink, but they always come back stronger. Examples of where to invest...
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  • Spring '14
  • ElishaGurfein
  • Interest, Saving, Millennial Invest, mid income range

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