Please Help: The Advantage to Saving Early - Mothering Forums

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#1 of 3 Old 04-03-2011, 12:05 PM - Thread Starter
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Does anyone have a good link/source for information on the advantages of compound interest.


I *know* I have seen information about how if you saved $x from 18-?  years of age it is the same as saving $y from 25/30- 65 years of age.  Anyone have a good source.


DD is now babysitting and we'd like to start her a Roth IRA.  DP & I would actually put forward the money (100% of whatever she earns, which is not much yet) but we would like her to understand why this is an important thing to do.  She understands the concept but I think a visual or an actual example would really help.


Also, anyone have a recommendation for a good place for her to get a Roth?  We (DP & I) use Fidelity because that is where his 401(k) is but DD doesn't make enough to have a no-fee account through Fidelity.  It would need to be free even with irregular AND small (even under $1K yearly) contributions.





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#2 of 3 Old 04-04-2011, 06:35 PM
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Calculators to put in exactly what she's contribute and how long it has to grow can help.

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#3 of 3 Old 04-04-2011, 08:22 PM
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Just make sure that you use numbers to accurately reflect the type of investment!


Momma to a weaning nursling DS1 (8/10) and expecting #2 pos.gif (EDD 9/12). DS1 currently Milk, Soy, Egg, Peas, Peanut, & Tree Nut Free (hives/vomiting).mdcblog5.gif lactivist.gif

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