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May 01, 2007

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Good points all.

BTW, did you read Robert Kiyosaki's Yahoo Finance column today? Here is the link:

http://finance.yahoo.com/expert/article/richricher/30687?count=30&start=96#dtk-cmtscnt

I honestly hope people don't believe everything they read. So much bad financial advice out there. People should read FMF instead.

This example is what makes those first twenty two years so painful. It seems like you're just making no progress, while you watch the rich take their money and make piles and piles more money.

But the key for young investors is to consistently save! When you're young, think in percentage terms instead of dollar terms. If you're 21, and you turn $10,000 into $20,000 in one year, you got a measly $10,000 increase in your net worth, right? Well, you have a 100% increase! That is awesome!

That's why the experts constantly pound the drum of saving - save anything you can, because eventually it adds up.

I couldn't figure out how I grew my net worth by $12K in just 6 months. I'm young and I don't make *that* much money! However, I've been fully funding my Roth IRA since graduation in 2004 and contributing to the 401k to get my company's match. It's gotten to the point that I'm starting to see the growth make a whole lot more difference. As much as 1/3 of my monthly NW increases come from investment gains.

My <3 goes out to whomever first conceived compound interest!!!

my mom didn't earn 1000 to invest in early 1967.... The money value was a lot higher then so there where no money left to save 1000 its definitively easier to save 10.000 today. This is the biggest wrong with the compound sagas that goes around ....

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