Cassandra Latsios, AdviceIQ 8:05 a.m. EDT July 3, 2015 Members of generation Y have some unique advantages in the world of personal finance.(Photo: Thinkstock)As a millennial, you enjoy advantages when investing: time and the power of compounding[1].The investing maxim Rule of 72[2] clearly demonstrates the latter. Divide 72 by the long-term growth rate you expect to earn on your investments to estimate how many years you need for your money to double in value. For example, if you accumulate $5,000 in retirement savings by age 25 and expect to earn an average yearly return of 8%, your money may double in approximately nine years.At 34, you may already have $10,000 saved for retirement – funds that can continue to grow for the next 30 years.Brave the market. If like many millennials you're uncomfortable with the risk of the stock market, realize that investing can greatly help you save for retirement.Stocks can also protect you from inflation. Cash savings lose purchasing power over long periods of even mild annual inflation; stocks don't. As a young-adult millennial, consider having at least 70% of your retirement accounts invested in stocks or equities.Low-cost, target-date mutual funds can be great investment vehicles when you start to save for retirement. As you age, these funds automatically adjust how much of your investment resides in stocks.Meet with a financial advisor to determine what asset allocation best suits your situation.Use your workplace retirement account. A 401(k)[3] is a valuable retirement savings tool that many companies offer as an employee benefit. It's convenient and painless: You fix a percentage of your pay to defer (save) directly out of your paycheck. After the initial setup, 401(k)s require little maintenance, and soon you won't even notice the money missing from your pay.For 2015, investors younger than 50 can contribute up to…

Henry Ford II, right, with his grandfather, Henry Ford, founder of the Ford Motor Co., on Oct.17,1946. (AP) Here’s some evidence that the 40-hour workweek, pioneered by Henry Ford so workers would have time to buy things, is vanishing.[1] And here are five charts that show work-life balance is dead[2]. Now hurry up and read this before the boss sees you. The European Union lifted its growth forecast, and German 10-year bond yields rose to 0.41%,[3] up from 0.05% two weeks ago. Pimco Total Return is no longer the world’s largest bond fund[4], ceding the title to Vanguard Total Bond Market Index fund. Internet killed the video star: Cable companies are losing television customers, who are opting for online video[5]. Hedge fund manager David Einhorn called five large energy companies “frack addicts” that drill a lot of money-losing holes[6]. UBS said its profit rose 88% in the past 12 months[7], and was also in talks with the Department of Justice to settle charges of currency manipulation. The Saudi Arabian oil minister, Ali Al-Naimi, says the price of oil is “up to Allah,” and has nothing to do with massive pumping by his country or the USA. At the same time, Saudi Arabia is burning through its foreign reserves at a record rate.[8][9] It’s getting a lot harder to find stocks of growing companies at a reasonable price[10]. Today’s Google doodle honors Nellie Bly, a journalist who really did change the world[11]. Ever wanted to make a volcano with a leaf blower? Of course you have.[12] E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.. Twitter: @johnwaggoner. References^ is vanishing. (blogs.wsj.com)^ that show work-life balance is dead (www.bloomberg.com)^ 10-year bond yields rose to 0.41%, (www.wsj.com)^ no longer the world’s largest bond fund (www.reuters.com)^ who are opting for online video (nypost.com)^ drill a lot of money-losing holes (nypost.com)^ UBS…

Chat with Small Business Expert Rhonda Abrams 12 Share This Story!Let friends in your social network know what you are reading aboutChat with Small Business Expert Rhonda AbramsReady to take your small business to the next level? On Thursday, May 7, from 2-3 p.m. ET, USA TODAY's small business expert, Rhonda Abrams, will celebrate Small Business Week with tips and advice on how to grow your business now. Visit USA TODAY Money's Facebook page and post questions during the live event. Post to Facebook Try Another Audio CAPTCHA Image CAPTCHA Help {# #} CancelSendSent!A link has been sent to your friend's email address.Posted!A link has been posted to your Facebook feed. USA TODAY editors, USA TODAY 3:36 p.m. EDT May 4, 2015Rhonda Abrams, Special for USA TODAY(Photo: Cooper Naitove, for USA TODAY)Ready to take your small business to the next level?On Thursday, May 7, from 2-3 p.m. ET, USA TODAY's small business expert, Rhonda Abrams, will celebrate Small Business Week with tips and advice on how to grow your business now. Visit USA TODAY Money's Facebook page[1] and post questions during the live event.Register for Abrams' free business tips newsletter at www.PlanningShop.com[2] and follow her on Facebook @RhondaAbramsSmall Business[3] and Twitter @RhondaAbrams[4].Here's one tip: Don't miss it.Read or Share this story: http://usat.ly/1GVmMxM 0) { %> 0) { %> 0) { %>References^ https://www.facebook.com/usatodaymoney (www.facebook.com)^ http://planningshop.com/ (planningshop.com)^ http://www.facebook.com/RhondaAbramsSmallBusiness (www.Facebook.com)^ https://twitter.com/rhondaabrams (twitter.com)...