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Yes, Virginia, You Too Can Be Rich - A Guide for New Female Investors

By , About.com Guide

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The Secret to Successful Investing - Start Young

Start Investing Young

The best way to become wealthy is to start young because your money has more time to compound. $10,000 deposited into your baby's trust fund, earning 10% per year, would grow to $18,621,820 by the time your son or daughter was Warren Buffett's age.

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One of the constant themes of this site and financial textbooks is that compounding gets more and more powerful the longer the time horizon. Consider that $10,000 invested at 11% for 10 years is only $167,220, while the same amount invested for 40 years is roughly $5,818,261 – four times as long results in nearly 35x as much money in your accounts. That is why it is so vitally important for you to start as young as you can; put money into a Roth IRA and always, always, always take the 401k contribution match provided by your employer.
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