Basically, everyone knows there is no free money. The money I'm telling you about is not free either. But it is very close. It takes money to make money as we all know. But it is so important that we invest. For children, around my age (i'm 18) you could get a Roth IRA. If you put 3000 dollars in a Roth IRA as a 17 year old in 54 years you would be a millionaire. You can take money out without penalty at 59.5 years of age, and at that point would have around 400000 dollars. But that is if you put 3000 in and do nothing else, you can keep putting money in. Once you make so much money you can no longer put money in. But if your in college or early career stage, odds are you won't make that much. So, 60 is not really that old. And you'd have millions which comes for 3,000. That is a lot of "free money." Compound interest is so powerful, and everyone needs to invest now. You could pay for your kids college, go on good trips when you are older. Get a sweet car. NOT WORRY about social security since it probably won't be around when we get older. Anyone else have suggestions on investing?
-Hutch
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A very good and responsible idea. I wish i had an extra 3,000 laying around to put in.
Em <3