History teaches us that the earlier you start something in life, the more proficient you will become at it.
Check out this chart that compares starting regular contributions to a Roth IRA at age 15 versus age 25.
You could potentially double your return by age 65, with no extra work!
If you missed last year’s post by Chris Pascale – in which he talks about how he put this into practice and opened up a Roth for his teenage daughter – check that out as well.
Now is the time that young people across the country are working at their summer employment. If you have teenagers, encourage them to set aside a portion of their earnings from their supermarket, camp counselor, landscaping, etc. job for their future. Show them these articles.
A couple of qualities that are already coming into prominence about Generation Z are their entrepreneurial spirit and a preoccupation with becoming financially free. Although you may never get them to listen when you ask them to do their household chores, chances are that when they see how much they stand to gain by starting to invest now rather than at 25, their ears will perk up.
Share your experience in the comments!
* The Stock Market is For Everyone, Eric Milton’s short guide to stock market investing for beginners, is available in e-book and paperback formats. If you like what you see on this blog, we hope you’ll take a moment to purchase and read the book, let us know what you think via a blog comment or Amazon review, and share this information with others! Thank you. *