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How to Turn Your Dumb Summer Job Into $162,000
2011 • E80 Jul 4, 2011 4m
In which John celebrates financial independence by explaining how minimum-wage summer jobs can become incredibly lucrative if only you save some of your money in a retirement account. In the US, the most common retirement accounts are called IRAs (IRAs have tax advantages), but any investment account will do. Just sock the money away in a low-fee diverse mutual fund, wait 50 years, and enjoy the magic of compound interest.