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Added on the 15/10/2014 16:23:02 - Copyright : Euronews EN
Business Insider contributor Kevin L. Miller II has vowed to give his children a running start to their adult life, by building wealth for them as they age. Within weeks of bringing each of his children home from the hospital, they all had a 529 college savings plan and a custodial account. In fact, Miller says that by the time his son turns 18, he'll have 75 times more in savings than he had at that age. To build generational wealth, Miller says it must start with communication. Speak with your children about saving, investing, and earning. Start early. Assuming a 7% annual return, by investing just $100 per month when your child is one year old, he or she could be a millionaire at age 61. But starting at age 25, Miller says, it takes $550 per month to hit the millionaire mark by 61, or $1,200 per month starting at age 35. Finally, don't just 'set it and forget it.' Keep a close eye on your finances and do an annual update to account for your life changes.
Hayden Panettiere is not hesitant to speak up as she chides the press for following Twitter buzz and missing the important issues.
Britain will gradually boost its defence spending to 2.5 percent of GDP by 2030, Prime Minister Rishi Sunak announces during a visit to Poland. "Over the next six years, we'll invest an additional 75 billion pounds in our defence," Sunak says alongside Jens Stoltenberg, NATO chief. SOUNDBITE
UN climate chief Simon Stiell warns that global warming will "decimate G20 economies" without unity. "Sidelining climate isn’t a solution to a crisis that will decimate every G20 economy and has already started to hurt," he says during his address at the UK think tank Chatham House, London, UK. SOUNDBITE
Members and supporters of South Korea's main opposition Democratic Party (DP) cheer as they watch a broadcast of an exit poll after Wednesday's parliamentary election. The DP and a small allied party were forecast to win up to 197 seats in the 300-member parliament, the poll shows, with the ruling People Power Party and its satellite set to secure between 85 and 99 seats -- down from the 114 they held in the last parliament. IMAGES
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