When we say investing, do you picture a bunch of old guys in top hats smoking cigars at the country club? Ok … just stop. Investing is actually something to get real about, right now.
Why? Because compound interest is a thing. When you’re young, you’ve got years and years and years to let it work its magic. Investing a little now could be huge later.
Time travel with us for a sec. Imagine you started 30 years ago investing just $250 each month. Based on past market performance*, today you’d have:
- $164,452 if you stuck to cash investments
- $334,906 if you used bond investments
- $762,383 in stock value if you went with stock investments
See all that compounding?! It may be tough to begin, but the more time you have to invest the better your outcomes can be. So. Make it a priority and just get started.
One good step is to participate in your TSP or an employer-provided retirement plan a spouse might have. There — you’re investing!