If you are in your 20’s memorize this graph, put it on your fridge, your home screens, think about it everyday.

1.The magic of compound interest. You’ve probably read about this before, but the best way to understand it is to see it in front of you.

Yes, we did that math correctly. If two people put the same amount of money away each year ($5,000), earn the same return on their investments (6 percent annually) and stop saving upon retirement at the same age (67), one will end up with nearly twice as much money just by starting at 22 instead of 32. Put another way: The investor who started saving 10 years earlier would have about $500,000 more at retirement. It’s that simple.

The above is from the NY Times article on retirement saving: https://www.nytimes.com/guides/business/saving-money-for-retirement