Four Tips for Young Investors
By John Persinos
As the Persinos paterfamilias, I've been trying to get the youngsters of our clan more involved with personal investing. Many of you can perhaps sympathize that it's a tough sell.
When a grandpa like me attempts to preach financial prudence to preceding generations, the typical result is the rolling of eyes. Hence today's column. Feel free to share this advice with the younger people in your midst.
Here are four investment tips for younger investors, to help them start and grow a retirement portfolio.
1) Harness The Power of Compound Interest
One of the most common pieces of retirement investing advice you'll hear is to start early, or at least as early as possible. All the studies show that the earlier you get going, the more money you'll have in retirement. That's because the earlier you start, the earlier compound interest goes to work for you.
Younger investors often overlook the power of compound interest, but if you can set aside a small amount of money every month and stick to your program, the results can be dramatic (see chart).
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