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In Reply to: Re: I think about this more these days posted by Joseph on November 12, 2004 at 10:08:53:
I say "confounded" because if you start investing in retirement by age 20, you can literally STOP putting money in your retirement funds by age 30 or 35 and use your money for other stuff -- and your invesment nest egg will literallly keep building itself over the years, increasing the compounded interest.
Only if you get started early.
Our situation is that we're starting late (age 50 and above) and the confounded compounded interest simply doesn't have the time to work its magic. You have to put so much more in and it does so much less.
Someone please contradict me and tell me I'm wrong. I really want to be wrong here, but I'm afraid that I'm not.
Anyway, my advice if you're young is start your retirement fund NOW.
