He opened a retirement calculator online. “If you put $200 a month into an S&P 500 index fund starting now, at 8% average return, by age 65 you’ll have over $600,000. Wait ten years? Half that.”
He handed her a folder. “Inside: quotes for renter’s insurance, term life ($500k), and disability insurance. You’re your biggest asset. Protect your income before you protect your portfolio.” Fundamentals Of Financial Planning 7th Edition Pdf
They listed her debts: $8,000 credit card (22% interest), $15,000 student loan (5%). “Pay minimums on the student loan. Throw everything at the credit card. That’s the avalanche method — highest interest first.” He opened a retirement calculator online
Two years ago, she’d graduated with honors. Now, she was hiding from collection calls. Half that
Maya stared at the blinking red light on her credit card reader. Declined.
He slid the Emergency Fund jar toward her. “Before you invest a single dollar, fill this with 3–6 months of expenses. That’s your shock absorber. No jar gets touched until this one is heavy.”
One evening, a junior colleague knocked on her office door. “Maya… can I ask you something? My card got declined at lunch.”