Comments on: The Road to Millions Starts at Age 16 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/ Talking about money, without being boring. Sat, 11 Oct 2008 10:26:26 +0000 http://wordpress.org/?v=2.6.2 By: Denise http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53599 Denise Sat, 21 Jun 2008 12:26:04 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53599 You may not be able to make a lot in the teens but knowing your money and the way it works will go a long way. You may not be able to make a lot in the teens but knowing your money and the way it works will go a long way.

]]> By: Brian http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53325 Brian Mon, 16 Jun 2008 11:45:20 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53325 My father both employed me in his small company and showed me what would happen with a Roth IRA when I started high school. I was hooked. I've always been cheap and greedy and never made megabucks at any job, but I'm glad to say that I was able to put away a good chuck of change in high school and now have $20k in my Roth. Even at only 8% compounded, I will have more when I am my parents age than they have now if I never save another dime. As a saver, I'm excited. Wish my parents and I had the funds to continue in college and grad school but life isn't quite 100% fair and expensive private schools are expensive. Looking forward to starting to add more to it in the coming years. My father both employed me in his small company and showed me what would happen with a Roth IRA when I started high school. I was hooked. I’ve always been cheap and greedy and never made megabucks at any job, but I’m glad to say that I was able to put away a good chuck of change in high school and now have $20k in my Roth. Even at only 8% compounded, I will have more when I am my parents age than they have now if I never save another dime. As a saver, I’m excited.

Wish my parents and I had the funds to continue in college and grad school but life isn’t quite 100% fair and expensive private schools are expensive. Looking forward to starting to add more to it in the coming years.

]]> By: Newspaper articles http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53104 Newspaper articles Tue, 10 Jun 2008 20:29:43 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-53104 Heh, I actually did this (I just finished my junior year of college). It was a bummer that I couldn't go out with my friends as much as I wanted but I think it's all going to be worth it when I retire. Plus I get to be inwardly smug. :) I just hope I don't die young. Heh, I actually did this (I just finished my junior year of college). It was a bummer that I couldn’t go out with my friends as much as I wanted but I think it’s all going to be worth it when I retire. Plus I get to be inwardly smug. :) I just hope I don’t die young.

]]> By: Michael http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-51971 Michael Mon, 26 May 2008 20:17:12 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-51971 Hi. The number one goal to becoming wealthy is paying yourself first. Having money coming out your check before you get it is the best way to save. I've been using this method for 3 years now. I wish I would have started this when I was 16. Hi. The number one goal to becoming wealthy is paying yourself first. Having money coming out your check before you get it is the best way to save. I’ve been using this method for 3 years now. I wish I would have started this when I was 16.

]]> By: DebtFreeDave http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-51188 DebtFreeDave Fri, 16 May 2008 22:08:39 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-51188 Most of these plans are great but life happens to most people and they need money. I think you may need to hide it from yourself or have someone hide it for you. Most of these plans are great but life happens to most people and they need money. I think you may need to hide it from yourself or have someone hide it for you.

]]> By: Timothy Lim http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-49070 Timothy Lim Wed, 23 Apr 2008 14:28:47 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-49070 It can only happen in an ideal situation. But there are many other ways to achieve millionaire freedom. It can only happen in an ideal situation. But there are many other ways to achieve millionaire freedom.

]]> By: Juan Carlos http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-37118 Juan Carlos Mon, 21 Jan 2008 20:16:31 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-37118 Would you email me your Excel chart in order to compound? Currently have 10,000 and 24 years old, would like to know how much will I have when I have 65 Would you email me your Excel chart in order to compound? Currently have 10,000 and 24 years old, would like to know how much will I have when I have 65

]]> By: Ryan http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-20893 Ryan Wed, 17 Oct 2007 01:22:31 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-20893 By the way, I believe that taking from your Roth IRA to make a down payment on a home isn't penalized. So this makes even more sense for someone who's young! You can transfer your wad of savings from an IRA to home equity. By the way, I believe that taking from your Roth IRA to make a down payment on a home isn’t penalized. So this makes even more sense for someone who’s young! You can transfer your wad of savings from an IRA to home equity.

]]> By: Rachel Danae Patterson http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-5528 Rachel Danae Patterson Tue, 19 Jun 2007 20:27:41 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-5528 Sad i will have to get some money i water the plants front and back i unload and reload the dish washer and i clean my bathroom and clean my bed room I make up my bed and i dog sit Sad i will have to get some money
i water the plants front and back i unload and reload the dish washer and i clean my bathroom and clean my bed room I make up my bed and i dog sit

]]> By: rosie http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-5355 rosie Mon, 18 Jun 2007 21:30:06 +0000 http://poorerthanyou.com/2007/03/07/the-road-to-millions-starts-at-age-16/#comment-5355 GGGRRRRR. the sad part about this is that I had money at that age I never spent, just sitting in a bank account! I used it years late to buy a used car and then to pay for my wedding. If only someone had told me. You'd think they would teach you this in school. So frustrating. Now, it's 15 years later, and not at a point where i can just hold on to money thanks to debt! truly sucks. GGGRRRRR. the sad part about this is that I had money at that age I never spent, just sitting in a bank account! I used it years late to buy a used car and then to pay for my wedding. If only someone had told me. You’d think they would teach you this in school. So frustrating.
Now, it’s 15 years later, and not at a point where i can just hold on to money thanks to debt! truly sucks.

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