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OK Tom, if money should never be spent then how am I supposed to pay my bills? Well, how to do you intend to pay them in retirement?
You won’t be working or maybe you will if you’ve not prepared for retirement...
If you put $5,000 in a Roth IRA at age 19, and never put another dime in, even earning a modest 7%, you would have over $190,000 at age 72. At 9% you’d have half a million.