Just right in this moment! No, the sooner, the better. When you start working and earning an income, start thinking about what you want to do for a retirement plan and what your financial goals are in general. There are a number of reasons why it is important to address this as soon as possible.

The sooner you start investing, the more time your savings will need to be invested and earn you a return. When you put money into a 401k or IRA, your contributions are invested in a variety of ways (stocks, money market accounts, mutual funds, bonds, etc.) that you have chosen, giving you a return on your investments. Because of this, the five dollars you save now are worth more in the end than the five dollars you invest ten years from now because the five dollars you invest now will have more time to be invested and give you returns .

There will always be a reason not to save, so start putting some aside now to get in the habit. It may seem like you don't have the money now to put something aside, but there will always be something. Whether it's a mortgage financial goals loan, having kids, traveling, getting married or working at your first job after school, there's always a reason to postpone saving for the future. The sooner you get into the habit of putting aside a small portion of your income, the easier it is to make it part of your normal budget.

If you have dreams of living lavishly or retire early, it is much more likely that you will become a reality if you invest early because you will get more money eventually. Trying to make contributions in the 50s is frustrating, scary and a huge hassle. Get started now, and saving for retirement is a far easier goal and saving enough will be a more easily achieved reality.

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If you have dreams of living lavishly or retire early, it is much more likely that you will become a reality if you invest early.