
By Prostock-studio @ Shutterstock.com
It’s tax season, why not show your grandchildren how to keep more of what they make? First, tell them about tax-deferred accounts, and then explain to them the power of compounding. Look at the difference between Grandchild A, whose grandparents explained the power of compounding and saved early and often, and Grandchild B whose grandparents only started saving later.
Action Line: Save early, save often, and start saving now for your children or grandchildren. As you can see in the table above, if you start early, it doesn’t take a lot to deliver the rewards of compounding to your family. Read more on compounding here.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- My Nephew Graduates, and I’m Larry the Cable Guy - June 5, 2023
- California Is Driving These Wealthy Businesses Out of the State - June 5, 2023
- Rome, Paris, U.S.A.: Global Crisis in Confidence - June 2, 2023
- Your Survival Guy’s Best Insider’s Guide to Rome - June 2, 2023
- What Is a Fiduciary Duty? Are You Working with a Fiduciary? - June 2, 2023