There are many good reasons why you should start saving for retirement. Any of the list here should be reason enough to convince you to start making a plan, but knowing a good interval can help you as you make a plan for your future.
1- The sooner you put that money aside, the more time it will take to earn your interest. When you invest in something like a 401k or IRA, your savings are invested in a variety of ways you have chosen (stocks, money market accounts, bonds, etc.) and they earn you interest year after year. So the hundred dollars you invest when you are twenty will be much more in the forty years it will take you to reach retirement age.
2 - The sooner you save the routine, the easier it will be to make it a habit. There will always be a reason not to put anything aside. Whether it’s student loan, a mortgage, a car… the list goes on. The fact is that retirement is still going to be looming out there in the distance and you have to save.
3 - Most people just don't. Don’t be one of the many people who will creep in to catch up in the 50s and work well into the seventies because you didn’t plan ahead. Do you want to travel or have expensive golf memberships in retirement? These cost money.
4 - No one else will take care of you, Social Security will not reduce it. You need to save to make your dreams come true because you are the only one who will do it for you. What do you want to do with this time in your life? Because chances are, it takes money.
5 - We live longer! You don't want to be ninety-five years old and broke. You will need a good amount of money to recover from the sixties to a hundred, so start saving now.
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