If a 25-year-old who invests $2,000 a year
If a 25-year-old who invests $2,000 a year at a 6 percent compound interest annually for fifteen years and never invests another dollar, after the age of 40, the 25-year-old will earn more by the age of 65 than a 35-year-old who invests $2,000 a year at 6 percent compound interest annually for 30 years, even though the 35-year-old would have invested twice as long.Last but not least, it is important to identify a short, medium and long-term goal for yourself. Here is a list [...] A short-term goal may be a new car, a vacation or a television.
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