Is realy the suner it is better it is?
2006-08-03 02:31:51 · 35 answers · asked by Smirnof_Ice 1 in Business & Finance ➔ Other - Business & Finance
when ever you start thinking about marrige!!
2006-08-03 02:35:30 · answer #1 · answered by Xenophile 5 · 0⤊ 0⤋
The earlier the better... If you can get a 10% return you'll double your money almost every 7 years. So, if you want a million dollars when you retire at 65, You'd need the following amount saved at this age (very rough numbers):
58- $500,000
51- $250,000
44- $125,000
37- $ 62,000
30- $ 31,000
23- $ 15,000
16- $ 7500
9 - $ 3750
2 - $ 2000
So- If your parents put a couple grand in a good mutual fund when you were born you should be very well off
2006-08-03 02:40:04 · answer #2 · answered by The Man 5 · 0⤊ 0⤋
When you were born, your parents and family members should have started something for you on your behalf. A beneficiary savings account, savings bonds, or something else along those lines. Once you start getting your childhood job, take a small portion of it into your own savings account. (minors do have to have a parent on the account) Every penny counts, as you get older you are going to see money adding up to a really nice amount. You can use these funds for your first car, college, house or even your retirement. Many adults are struggling right now because they didn't start saving for their future when they were younger. Happy savings!
2006-08-03 02:47:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm 22 years old and I have been socking away tidbits of money into a high yield savings account then turning the money I save into Cd's since I was 17. I'm trying to save up enough money to put a really nice down payment on a home.
2006-08-03 02:39:02 · answer #4 · answered by tattoomeats 2 · 0⤊ 0⤋
Frankly I think you should start as soon as you get your first job. Saving doesn't have to be much, but put aside whatever you can manage in the event of emergencies or rainy days. My savings has managed to save me a time or two and I started saving when I was 18 when I got my first job.
2006-08-03 02:39:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
My father made me start saving from the age of 10. Every month I had to hand over any left over pocket money which he then went and deposited in my bank account. I think it was a good idea as I have grown up to be more responsible about my money compared to my friends (although my father disagrees)!
2006-08-03 02:38:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Your never too young to start saving money... it depends on what type of savings you are looking at... i believe to start a 401k through a company you need to be at least 21 years old, if not just go to your bank and open up a savings account.
2006-08-03 02:36:02 · answer #7 · answered by rachelle105210 5 · 0⤊ 0⤋
yes. you should start saving as soon as you can. it teaches good lessons. I am 16 and I wish I would have started saving a lot sooner, because now I want a car, and I have to say every penny. Plus I need to save for college.
2006-08-03 02:36:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Start saving as soon as possible, our parents set up accounts for us at a few years olds, when we where old enough 10-11yrs we started putting dosh in our accounts ourselves...
talk to the prudential if you are a lot older in employment and earning a good wage, they provide good savings accounts with good returns, or try an ISA account...
2006-08-03 02:37:45 · answer #9 · answered by Paddy 3 · 0⤊ 0⤋
Start saving no matter what age you are. It doesn't have to be huge amounts of money; just start saving some money, even if it's $5/week
2006-08-03 02:36:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋
saving is a very important prospect of once life. everyone should start saving as quick as posible. i am 22 and i started saving from the age of 5.
2006-08-03 02:37:18 · answer #11 · answered by Pravesh A 1 · 0⤊ 0⤋