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Reply to "What was your luckiest financial endeavor or gift?"
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[quote=Anonymous][quote=Anonymous]Dad talked me into starting an IRA when I was 19. Put in the max every year. It was $2k at the beginning. “The eighth wonder of the world is compound interest,” were his exact words at the time. THANK YOU, DAD![/quote] +1000 We are doing the same with our kids. Sat down and showed them how much they will have at retirement if they only contribute to an IRA from first job (age 17/18) until age 30 and then stop. They would be well on the way to a great retirement with that only, not that they would actually stop. Add in 401K from 22-30 and they will have $3M+ at retirement if they stop everything at age 30. [/quote]
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