I was having a conversation with a co-worker earlier this week. Our company just started offering a matching program for simple IRA's and I asked her if she had signed up for it. She said that it didn't really understand what it was all about, so she was just going to skip it.
I was a little shocked since it's a 3% match (Free money!) and asked her if she had any retirement savings at all or what her plan was. The more I talked with her, the more stunned I became. I kept thinking to myself - wow, she's so young, she could have such a good amount of retirement savings set aside when she's older. Anyway, she had never heard the concept of compound interest, so it gave me an idea to build a quick tool to show younger people especially the power of compound interest over time.
Here's what I came up with: Compound Interest Tool
She was blown away at how something like that could grow over time and signed up for our company's match plan on Friday.
Anyway, I'm hoping this might help some other younger people out there realize the power of saving and starting early.
Submitted January 29, 2017 at 11:52AM by fhatfield http://ift.tt/2jFRKGn
