When I was younger someone showed me a graph about the power of compound interest on your savings. If you’ve never seen this, here is an example.
The biggest import of this graph? Start early!
But what happens if you didn’t start early? If you’re like me, you weren’t able to put money away that early. Maybe you needed to pay off student loans. Maybe you had a mortgage you needed to pay off (which makes total sense if your mortgage interest is higher than the interest you make on your savings).
Maybe you just wanted to have fun. Whatever the reason, you didn’t start early. You have missed out on some of the opportunity of starting early. There is nothing you can do about that now.
Maybe this is another in a long list of missed opportunities. Missed moments to move your life forward. Another time you missed taking the road you should take. This may be true, but there is no point dwelling on them. You need to learn from them.
You didn’t start in the past, but you can start now.
It is true that the best time to plant a tree was twenty years ago, but the second best time is now.