She's born next year, she has the account opened for her. $1,000 is automatically ceded her parents, her family or an employer puts 5,000 a year each year into that account. If you assume the historic rate of growth of the s and P500, which is 7% a year, by the time that little girl is 18, she will have $170,000 in that account. And if she keeps saving, by the time that little girl is 35, she will have $700,000 in that account. That is game changing. (21:43–21:56)
CLAIM
Asserts that with a 7% growth rate, the account will grow to $170,000 by age 18.
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