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My college aged brother will be in town soon, and I wanted to get him up to speed on basic money principles, and boglehead views on saving and investing. Understanding the time value of investing money NOW and future growth potential for invested money is an important foundation. I remember reading examples of compounding growth in Finance class and thinking "I want to start saving right now."
Does any one have recommendations for a good video which demonstrates the value of saving/investing now, versus waiting until later and losing time.
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I don't know of any videos, but I use the 'wealthy barber' story. I first learned about it on PBS in the 90's. Here is the story:http://www.getrichslowly.org/blog/2006/ ... d-returns/
It is easy enough to whip up a quick spreadsheet to demonstrate this story. I use/give a spreadsheet to young people so they can do what-if analysis on their own see how much difference it makes.
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