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)
- 4 Life Changing Words for Your Survival Guy: “You Should Try This” - January 26, 2023
- Anti-Carbon Crusaders in Davos Talk ESG and OPM - January 25, 2023
- Welcome to Hotel California, Where You Can Never Leave - January 25, 2023
- What You’re Telling Me Matters - January 24, 2023
- The Rich Seek More from Bank Accounts - January 24, 2023