You know those programs that the bank offers where you can automatically set aside $20 a month and let the magic of compound interest make you a millionaire? What’s the secret behind them and why do they tell you to enroll into those programs? From an analytical angle, I don’t see the difference between investing $20 a month or putting in $300 each year.
Is it because certain people in our society end up spending every single $20 bill of their money and can’t plan to save? Because while I don’t follow one of these programs, after awhile when I see the numbers in my bank account count up, I do dump it into some sort of investment device (and more than $300 natch). So I can’t really see the reason why investment strategists are pushing these programs unless there really are people who don’t have the willpower to save $20 a month.
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