3 ms·

> Compound interest can work wonders. This used to be great advice.

• selcuka 5y ago
  It still is, but even if it is not it may be in the future. The OP has many years ahead.
  • hdjjhhvvhga 5y ago
    As the gap between the inflation and interest rates on saving increases, you lose more and more money in the long run. I'd go for a more general advice, that is trying to diversify your savings maximizing them while avoiding unnecessary expenses.
    • DamnYuppie 5y ago
      Please note that for many when they say compounding interest they mean compounded rate of return. This return can be on any asset class not just bonds. I 1000% agree with you on avoiding unnecessary expenses. Until you get a few million in the bank your greatest wealth building tool is your income so be wise in how you deploy it. Best advise I have is have a budget, try and save 20% of your GROSS, 10% to retirement the rest non retirement accounts.