>>Compound interest at < 1% isn't going to make much difference over a decade.
Huh? I'm not talking about a savings account here brother. I'm talking about retirement investment accounts like 401k and IRAs. In their 20s, the majority of those investments should be in stocks, which on average gain 9-10% per year. The compound interest on that is humongous.
Stocks don't average 9-10% per year, not anymore. Since the Dow was at 10K in 1999, the Dow has averaged 2.1% per year, with great volatility (ups/downs). Including dividends, maybe 4%. The gov't has fueled that relatively anemic growth with massive unsustainable borrowing and raping of the environment, so the past is definitely not an indicator of future performance.
Huh? I'm not talking about a savings account here brother. I'm talking about retirement investment accounts like 401k and IRAs. In their 20s, the majority of those investments should be in stocks, which on average gain 9-10% per year. The compound interest on that is humongous.