Seth just graduated from college and has joined the workforce. His uncle tells him that he should open up a retirement savings account and contribute to it each month. Seth feels that because he does not plan to retire for another 40 years, there is no reason to start saving for it now. Explain to Seth why he should consider taking his uncle’s advice. (2 points)
Hey Seth! Your uncle's advice about opening a retirement savings account is actually pretty important. Starting to save for retirement early means you have more time for your money to grow through compound interest. Plus, in the future, you'll be grateful for the financial flexibility and security that comes with having a retirement nest egg. Trust me, it's better to start now and thank yourself later!
