Is It Too Early to Get Your Minor Children Saving for Retirement?
Briefly

from 24/7 Wall St.4 months ago
It is never too early to begin your child on the journey of saving for retirement. You can put away money for them right after birth and let them start contributing as they age.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/04/is-it-too-early-to-get-your-minor-children-saving-for-retirement/
Given enough time, even a small amount can rapidly increase in value so that by the time retirement age rolls around, you are sitting on a small fortune.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/04/is-it-too-early-to-get-your-minor-children-saving-for-retirement/
According to this compound interest calculator at the Securities & Exchange Commission, an initial $1,000 investment that you didn't touch for the next 50 years while earning the stock market's historical 10.5% annual average return will give you over $147,000.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/04/is-it-too-early-to-get-your-minor-children-saving-for-retirement/
The combination of time and the power of compound interest are a powerful, one-two punch that can turn even as small amount of money into a fabulously large some of money.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/04/is-it-too-early-to-get-your-minor-children-saving-for-retirement/
Read at 24/7 Wall St.
#retirement-savings #compound-interest #financial-education #childrens-finance #investment-strategies
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