4. Take Advantage of the Gift of Time

The earlier you save, the better. And the numbers prove it too, so you know we’re not just saying it, the numbers never lie.

Let us start with the assumption that your account growth is at 7%. If you start when you’re 25 by saving $100 a month, by the time you’re 60 you’ll have $165,884. Postponing by 10 years means you’ll end up with $75,898. Those who wait to start saving until they’re 40 will have a much harder time catching up, as they’ll need to put away three times the starting amount in order to do so.

However, if you haven’t put anything aside as of yet, don’t take this as a sign that you shouldn’t even start trying. The earlier, the better. But if you don’t take this step at all, then your retirement will be far from comfortable.