According to a recent survey, 61% of Americans said they found investing scary or intimidating. Ryan Ermey, Staff Writer at Kiplinger, joins Your Cheddar to discuss how much extra money you can have when you retire if you start investing in your early twenties.
If you start investing $100 per month at a return rate of 8% per year at the age of 27, you'll have $35,000 by the time you're 67. However, if you invest that same amount of money at age 22, you'll have $530,000! Ermey explains why time and compound interest are on your side.
Plus, you can't put all your eggs in one basket. Ermey walks through different ways to diversify your investment dollars. Whether it be investing in bonds, ETFs, or stocks, you want to make sure your money is spread out in case one investment turns out to be a dud.
The NASDAQ’s Executive Vice President of Corporate Platforms breaks down why you’ll probably see a lot of companies going public in September and December.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
