I remember when IRA’s were new. They were touted as a financial boon. It was in the time of high interest rates during the Arab fuel embargo. Million-dollar balances when I and my fellow 20-somethings reached retirement age were projected.
If you put aside umpty-ump dollars today, with company matching, you will have umpty-umpty-umpty-umpty-ump dollars when it’s time to retire.
It hasn’t quite turned out that way, has it?
Kavips explains why. A nugget:
Read the rest, in which compound interest meets commissions, and commissions win.