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Politics : Politics for Pros- moderated
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To: Lane3 who wrote (101686)2/23/2005 3:32:26 AM
From: KLP   of 793926
 
If young people would save 8-10% of their salary each month, by the time they retire they would be millionaires....magic of compound interest.

But, most don't. They would rather have a new car every year or two, and throw the depreciation money down the drain. Or the newest latest greatest cell phone, TV's, stereo systems, etc etc.... Expensive hobbies, expensive trips, and expensive clothes. The me generation.

Then folks wonder why there isn't enough when they are getting ready to retire.
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