According to a recent survey, 61% of Americans said they found investing scary or intimidating. Ryan Ermey, Staff Writer at Kiplinger, joins Your Cheddar to discuss how much extra money you can have when you retire if you start investing in your early twenties.
If you start investing $100 per month at a return rate of 8% per year at the age of 27, you'll have $35,000 by the time you're 67. However, if you invest that same amount of money at age 22, you'll have $530,000! Ermey explains why time and compound interest are on your side.
Plus, you can't put all your eggs in one basket. Ermey walks through different ways to diversify your investment dollars. Whether it be investing in bonds, ETFs, or stocks, you want to make sure your money is spread out in case one investment turns out to be a dud.
New York Attorney General Letitia James announced a lawsuit against PepsiCo Inc. on Wednesday, accusing the soda-and-snack food giant of polluting the environment and endangering public health after its single-use plastics were found along the Buffalo River.
Voting on a tentative contract agreement between General Motors and the United Auto Workers union that ended a six-week strike against the company appears too close to call after the latest tallies at several GM factories were announced Wednesday.
Microsoft is partnering with Warner Brothers for the film Wonka to release a limited edition Xbox series X that looks like one of Willy Wonka's famous chocolate bars.
Google CEO Sundar Pichai was back in court Tuesday to testify in an antitrust trial that accuses the company of running an illegal monopoly on its Android apps.
