No. of Recommendations: 3
Postscript, and I think I've shared this story on Fool.com. I used to DCA money for her into a taxable account some years ago. She never asked me about it, and she was extremely surprised when I told her, after some time, that her money had actually grown quite a bit. She had just assumed that I put it in every month, and gambled it away, and never told her about it out of embarrassment. So she was expecting a balance of zero.
Funny!
While sorting out my dad's estate, a family member and heir was shocked to see how much dad had in investments (through a "helper", unfortunately), and implied dad must have taken money out of the family business. I tried to point out that his money would double if it made 7% a year for 10 years and he was retired for 20. Some folks, otherwise highly intelligent, don't quite get compounding.
