It doesn't look like much in the beginning. The power comes in the last ten years from compounding the money saved in the previous 20. |
Many young parents think linearly. Get a job, move up, buy a house, start a family, educate the children — and then think about retirement. But once they've taken care of the kids, there's not enough time to benefit from the compounding of earnings over 30 or more years. |
You can borrow money for college. But you can't borrow for retirement. |