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The Water Cooler
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<blockquote data-quote="CHenry" data-source="post: 4114014" data-attributes="member: 6281"><p>My best advice for anyone, if your younger than 60, invest in a S&P500 index mutual fund. I went through Vanguard and started a ROTH IRA, there are minimal fees and its easy. The SP has averaged 12% compound interest over the history of it. When Trump was in office mine was doing 36% and even now in this crap economy its still doing 11.9% for this year.</p><p>With compound interest, time is your best friend.</p><p>Google Compound interest calculator and just play with numbers as far as contributions and years, use 12% as the interest rate and the results may make your head spin.</p><p>This is how millionaires are made without that silver spoon.</p><p>I wish I had known this when I was 21 first starting out. I'd be a MULTI millionaire now</p></blockquote><p></p>
[QUOTE="CHenry, post: 4114014, member: 6281"] My best advice for anyone, if your younger than 60, invest in a S&P500 index mutual fund. I went through Vanguard and started a ROTH IRA, there are minimal fees and its easy. The SP has averaged 12% compound interest over the history of it. When Trump was in office mine was doing 36% and even now in this crap economy its still doing 11.9% for this year. With compound interest, time is your best friend. Google Compound interest calculator and just play with numbers as far as contributions and years, use 12% as the interest rate and the results may make your head spin. This is how millionaires are made without that silver spoon. I wish I had known this when I was 21 first starting out. I'd be a MULTI millionaire now [/QUOTE]
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