A lot can happen in 10 years, and as time goes on, it only seems to moves more quickly.
Many things have the gift of growing and flourishing over time. A nice wine, a planted seed, your retirement account.
Just like a small seed that will eventually become a great tree, your retirement account has to start somewhere. The sooner you get that seed in the ground, the larger it will be by the time you retire.
Most people in their 20’s are not in their peak earning years yet. Paychecks may feel like they are already stretched too thin, and because of this, many put off saving for retirement. You may not have been offered a 401k at work in your lifetime, and maybe you never even thought to start saving on your own.
There are always reasons not to save, but the longer you accept these reasons, the less you are giving to your future self. In the two examples below, $500 a month is invested for 40 years and 30 years, earning an annual 7% interest. The ending balance after 40 years is DOUBLE what it is for 30 years. Double. Let that sink in.