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To: gizwick who wrote (117825)	2/4/2014 6:27:18 AM
From: bruwin	Read Replies (2) \| Respond to of 118717

I would certainly agree with you on that one ... I'd say that it is especially prevalent in those countries where there are so many 'distractions' such as readily available motor cars, IT stuff, sports paraphernalia, etc.., etc..., That's not to say that young people should be deprived of those items (preferably everything in moderation) but I'd say that the POWER OF COMPOUND INTEREST should probably be more widely emphasized, elaborated and disseminated. After all, if one starts doing something basic about personal investing from an early age, say, 25 years of age, after their post school education is over, and they invest 5% of their gross salary of $3000/month, that's 5% x $3000/mth x 12 months = $1800/year towards their investment. If we assume an annual stock market investment gain of 20% per annum, which is more or less in line with the S&P 500 ETF (which has shown a percentage gain of over 28% in 17 months) that we've been using as a "bench mark" for the Portfolios we've been running on my board, then in 20 years time, or at their age of 45 years, they could possibly have accumulated a nest egg of ..... $1800(((1,2)^20)-1)/0,20 = ~$336 000* .... and by putting their money into an ETF they wouldn't even have to know anything about the finer points of stock market investing. Needless to say, as their monthly income increases over time they would be multiplying larger monthly salaries by that 5% investment portion, thereby giving a larger end result. " ... and I have made some bonehead mistakes" Rest assured you're not alone in that department !!!

To: gizwick who wrote (117825)	2/4/2014 2:21:37 PM
From: maverick61	Read Replies (2) \| Respond to of 118717

It is too bad that many of our younger people just want to spend and not save. At my employers workers are eligible to participate in matching retirement and HSA accounts and only 1% do it. Most of them would rather have a Coach purse than save anything for their retirement. It is definitely the me generation. Spot on. Unfortunately too many folks think the government will take care of them when they get old, yet our national debt spirals out of control. Too much entitlement mentality among folks I started saving early on - both for retirement plus non-retirement funds via automatic transfers from my bank account and built up a nice nest egg. Always maximized retirement contributions to get my employer match. People who do not amaze me. By not doing so you are pissing away free money. I have already told my daughter when she finishes college and starts working in the real world, she is going to give me 5% of her check each pay that I will invest for her. The power of compounding works wonders over time