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May 11 2007

Here is my real life story - In 1985 I was hired by a large automotive firm fresh out of college. The HR person doing the hiring gave me 401K paperwork to fill out. I told him that I wasn't making enough money to save for retirement - I was just out of college!

The man looked me in the eye and told me that if I didn't sign up with 6% of my income right then and there, he wasn't going to hire me! So, I signed up, and when I left that company 4 years later, I had a small nest egg of about $6,000, which I rolled over to a brokerage house. I never added any more money into that account, but it has materialized into six figures!

So to the people who think that it's not possible - it is, and it doesn't take much - I got my quarterly statements, re-balanced the account every couple of years, and let it grow! For those folks, individuals such as David Bach provide simple instruction on how to be this successful - because we all don't have smart HR employees when we get jobs.

I took my savings habit with me as I went from job to job - and remembered to ROLL OVER, and not cash out, the 401k's and 403b's (not for profits) that I accumulated along the way - I still max out my 401k, and should hit my first million within about 5 years - what a feeling that will be!

- Maureen Niemiec
Shelby Township, MI

Advisory Services offered through Edelman Financial Services LLC. Securities offered through Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC

David Bach is Vice Chairman of Edelman Financial Services LLC, a Registered Investment Advisor. He is an Investment Advisor Representative who offers advisory services through EFS and a Registered Representative of (and offers securities through) Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC