Post by oldhippy on Oct 20, 2019 5:09:50 GMT
This graphic really made me think. If we are fortunate enough to help our kids get started during the critical early years of adulthood (when they are typically just trying to get by) and eventually have them take over but not lose time so that compound interest can make a huge difference, any ideas as to what parents have done for their kids in their 20’s to assure later in life it made a huge difference? I am thinking about contributing $200 per month for each daughter starting age 19 with the deal that they start contributing over time when they can afford it. Maybe contribute $20 per month until they can gradually get to $200 over a period of time. IRA, mixed portfolio of stocks, bonds, mutual funds and teach them along the way? Thoughts?
