Compound interest rewards starting early: saving $200 a month from age 25 to 65 can grow to roughly $550,000, far more than the same amount saved starting later in life. The earlier you start, the more time your money has to compound.
You are underestimating the amount of money you can save over time. Do you understand that the compounding interest theory really applies more to when you’re younger? If you start saving just $200 a month at the age of 25, and you save all the way up to 65, it will result in a minimum of $550,000 in savings! Just $200 a month or $50 a week. Think about that.
