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Scenario: Your 21-year old niece, who is graduating from college next month, asked for your...

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Finance

Scenario:

Your 21-year old niece, who is graduating from college next month, asked for your advice should she:

Invest $5,000 per year into her retirement fund (9 payments) from age 22 30?

Or wait until she turns 31 and invest $5,000 every year through age 65 (35 payments)?

Share your niece's age 65 balance from part A. for both scenarios with the class. What did you find? Share your findings from part B. What did you find? Discuss the implications for her goal of becoming financially independent.

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