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QUESTION
Scenario: Your21-year old niece,who is graduating from college next month,asked for your advice - should she: Invest$5,000peryear into her retirement...
Scenario:
Your 21-year old niece, who is graduating from college next month, asked for your advice - should she:
Invest $5,000 per year into her retirement fund (9 payments) from age 22 - 30?
Or wait until she turns 31 and invest $5,000 every year through age 65 (35 payments)?
- Share your niece's age 65 balance from part A. for both scenarios with the class. What did you find?
- Share your findings from part B. What did you find?
- Discuss the implications for her goal of becoming financially independent.
- Share any additional advice you have?
