I hear people telling me, I need money now not later, I can not wait 40 years. This sounds reasonable but let me explain why this is a financial mistake. Take in consideration that Norte-Dame Cathedral is more than 850 years old. Let use this time frame to gain perspective. When you think 40 years is too much time, You are reacting Not impacting this world. If you put, into a 8 years old child account $5000, when he gets to 65 years old, he will earn a solid income every month, more than enough to cover all their needs. The key is not $$$$ how much, the key is you have a lot of TIME to compound interest rate. Paris it self is the most visited city in the world by its compound effect of history! Start NOW. No TIME to waste. Also, is important you put your money in a place that earns enough % interest rate to expedite the compound effect of TIME. No, the savings account in the bank is not a smart choice. Learn the rule of 72. If you take 72 and divide by the % interest rate, it will show you the number of years money will take to double. Think like this, most of the problems in the world are by lack of money. Is time we stop reacting and start impacting the world today. Maybe the present is just what we have but we can impact the future with today's money decisions. Financial education is beyond money and you have all the time in the world. We must create more % interest compound accounts for a child that will have a solid financial future, transforming the world?leaving the scarcity mentality behind that cause crime, war and famine.