Starting to save for your retirement now will reduce the amount of money you need to save each year to reach your retirement goal. If you decide to postpone your retirement plan, you will have to set aside more money from your pool of income in order to meet your retirement goals. You'd have to save more and would be giving your retirement nest egg fewer years to compound, meaning you'd have to invest more but get a lower return on investment.
As a result, it's critical that you plan ahead and get started early in order to reap the full rewards of the compounding effect that only time can provide.
