Question

George is 22 years old, single, and has just started his first job. He saves 5 percent of his monthly

income for retirement. Kirsten is 30 years old and married with two children. She will start saving 6
percent of her income for retirement when she turns 35. Which person will have more money at age 6
if all other factors are the same?

Answer 1

If all factor are the same,, George would have more money at age 60 since he started saving earlier.