One Key Strategy to Having Sufficient Savings Later in Life

Multiple Choice

One key strategy to having sufficient savings later in life is to start saving early. Why is this recommended?

A) Saving money earlier in life gets you into the habit of saving, so you are likely to continue.
B) You can take advantage of compound interest to grow your savings faster.
C) You are less likely to fall prey to the sunk cost error.
D) If you gain more money early, you will be more resistant to loss aversion if something happens to the stock market.