Oh yeah the system is totally busted anymore.
You go to school for 1/3 of your life, get yourself into so much debt that you owe till your about 30 -35 then that is when you can finally start to save up towards retirement. Without pension and with so few people actually investing into 401ks and social security most likely non existence by the time we retire there is not all to much hope unless you seriously take responsibility of your finances.
Stupid high interest rates etc. I think it is also important for people to realize that they should NEVER pay a minimum. Always try to pay a little extra and put it towards the principle in any case you can. It will make a huge impact.
We don’t need to teach young people the need to develop a savings habit.
It’s much more important to teach them an investing habit these days!
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