Do you have any money to set aside in a retirement plan? How much do you spend (weekly) on coffee/snacks at Starbucks or any coffee chain? $20 bucks? $30 x 52 weeks x 40 years = $62,400. You must be thinking $62,400 is not going to help me retire...Think again..with the power of compounding interest, your annual saving of $1,560 will turn into$241,428at a moderate 6% growth!

Future Value Table Calculator. LinkLinks to an external site. https://www.calculator.net/future-value-calculator.html?ctype=endamount&cyearsv=40&cstartingprinciplev=0&cinterestratev=6&ccontributeamountv=1560&ciadditionat1=end&printit=0&x=0&y=0

What's the difference between a traditional and Roth IRA?

The difference between tax-free and tax-deferred. Discuss the advantages of deferring income.