Do you remember when you were 16 and thought 21 was so far away but when you got to 21, you thought 30 was so far away? I know I did and now I'm in my early 40s and wished I started retirement saving in my 20s instead of when I turned 35, well seriously anyway. There are countless examples of how if you save for retirement in your 20s, your retirement savings see next level growth, because the money is invested for a lot longer.
Don't Lie To Yourself
We lie to ourselves all the time about many things. You can't really argue with the universal truth that you will get old one day. Since getting old is an eventuality, why not accept it earlier in your life when it's beneficial to your finances and seriously look at how to maximize time in the market.
You should start investing for retirement in your 20s.
Why save for Retirement Sooner Than Later?
Cause if you don't save for retirement, you will have to depend on someone else to provide for you and your family. And we all know how people love to give their money away. The only safety net you might count on for retirement is the government. And if you think I'm serious that you can count on others to provide for your retirement, the gif below is for you.
All jokes aside, look at this chart and if you're still not convinced than I don't know what I can say to convince you...
Looking at this chart, its clear that Susan is the winner because she started investing at age 25 and even though Bill and Chris invested more money than Susan, they could never catch up to Susan's returns. All because Susan was wise enough to start early and ended with much more money than Bill and Chris combined.
Start investing early. You may not afford the missed growth opportunity later in life. Investing is not that hard, you just need to do it. Let me know in comments about your thoughts and when you started investing.