Give your money time to grow

When’s the best time to start saving for retirement? Right now.

How valuable is time? Consider this example: Dawn, who started saving at age 25, has a larger nest egg at age 65 than Dave—even though Dave saved for 20 years longer than Dawn. Dawn’s secret? She started saving ten years earlier than Dave. That made all the difference.

By keeping your money invested for the long term—and reinvesting interest, dividends, and capital gains you may earn along the way—you can harness the power of compounding.

But even if you’ve put off investing for retirement, it’s not too late to begin. Every day that you’re saving and investing is a day your money is at work for you.

The illustration assumes that Dawn saves $2,000 a year from age 25 to 35, and that Dave saves $2,000 a year from age 35 to 65. It also assumes an 8% annual investment return after expenses. The illustration is hypothetical and does not represent returns from any particular investment. All investing is subject to risk.