Even most Americans with $10,000 to invest couldn't answer these 3 money questions
There's a lot of confusion about how retirement savings accounts work, even among those who are more well-prepared for retirement. Just 19 percent of respondents selected the correct answer: $19,000 . As personal finance site NerdWallet points out, thanks to compound interest, setting aside an extra $500 a year — or about $42 a month — could mean up to $70,000 more in your retirement account.