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Chapter 4. Your Best Chance at Retiremen... > Building a Plan for Your Future - Pg. 43

Your Best Chance at Retirement Is Your 401(k) 43 Here's a fun example of how compounding works. Before leaving to discover the New World, Chris- topher Columbus trotted down to his local bank and invested $1. The banker gave him 5 percent interest, compounded annually. Chris, forgetting about his deposit, let the money ride. After he died, the account stayed active until his heirs opened it in 2002. How much money was in the account? That $1 deposit had grown ... to over $64 billion. No kidding! Remember: The most important part of compounding is time .